I live in unincorporated Clackamas County (Near Happy Valley) and am in the final stages of approval for an 8 lot subdivision zoned R8.5. 

I’ve seen a few horror stories on here about investors that finally closed on a property only to find out that the HOA in the area doesn’t allow renters. 

My lender has told me the bank statement income loans are coming back finally. 

Finally, find an investor to lend you money to cover the down payment.

I want to get past this hurdle and finally take action.

The highs are unbelievably satisfying, like when you can finally relax inside, knowing that the money-part of your life is taken care of.

Was I ever happy when I finally delegated all of the bill-paying, except for the part where I continued to sign the checks.It got “better”: of all the bad aspects of being a landlord, what drove me the most crazy was showing apartments, believe it or not.

Where would your tenant place the litter boxes and how would he empty them (we had one couple who completely clogged a sewer line tossing litter down a sink...not a toilet).Finally chasing fleas and worrying about litters of kittens (or females in heat) are not fun things. 

So property taxes will be adjusted and the difference could be great is the current owner owned the property for a while.In the final analysis, the taxes will invariably go up.

(final aside: I'm also being mindful that we may not want to end up with this property in our portfolio, and thus be stuck in the same situation down the road when trying to sell it)THANKS IN ADVANCE!