Depending on the size of the capital gain you'll also pay Net investment income taxes. 

oregon has no sales tax and prop tax's are more in line with the 1% rule but income tax is 2nd highest I think and then if you live in the Portland metro area there are 2 other layered tax's that dont affect lower or middle income but higher income you can pay an additional low 6 figure tax to shelter the homesless and pay for the metro line.. but Oregonians love their state and most that are born and raised here will never leave..

You're right in thinking that there arent too many distressed properties in the high income areas, just focus on the fundamentals (quality location, quality asset) and you'll find success. 

Once you create a campaign and delete the campaign it still remains on your web page.

Paying about 200 to 300 a month to essentially just "have it" and let it appreciate and see what happens.my short term goal is to increase savings cash assets and equity in next 5 years so i can buy a couple of investment properties that provide extra monthly income while increasing in value.

Our primary residence has a lot of equity, we have great W2 incomes, and >800 credit scores. 

Ready to move to a more economies of scale investment with multiple ways to increase income.

That property is still in my portfolio and is still generating income and building equity for me.  

They are mostly high earning income individuals who don't want to spend the time and headache involve.Return wise, both will make most likely about the same if they are manage to their full potential.

Comparing to comparable STRs in the neighborhood would be the best way to determine your potential income