There's probably more to it than that, but that's my bet anyway.If you are interested in rentals in Portland, maybe a get in touch with a realtor and get an idea of what to expect for cap rates, etc. there and maybe give them some of your criteria so they can be on the lookout for properties you might be interested in.

You helped me win a bet.

Your best bet get a good insurance policy.Joe Gore

Management looks low.How are you calculating Gross NOI?

This does increase your cash flow for that first year but you still want to calculate maintenance costs in from the beginning.We have sold some of our older SFR's here in California and purchased new construction in Texas.

FYI - I recently posted this in another thread - might help you get your head around what it takes to start a wholesaling business ~What you need to get started is:1) A process2) A teamKnow exactly how your process will work:a) Meeting cash buyers & understanding their needsb) Finding motivated sellersc) Evaluating propertiesd) Calculating offerse) Testing the water with your buyer(s) if necessaryf) Negotiationg) Closing via a contract/agreementh) Assignment to a cash buyer via another contract/agreementi) Receiving payment at closingFor your team, you'll need to know:a) Cash buyers, of courseb) Real estate agent(s) or broker(s) - provide comps, MLS opportunities, etc.Perhaps also,c) Title company (good to have but more important for cash buyers; but you may want one to hold earnest money in escrow)d) Attorney (required in some states)Best of luck!

I bet your civil engineering background might come in handy in RE investing.

Does 'arranging the deal equity' include me doing most of the due diligence before the purchase, or would you expect more equity for doing the due diligence.If we arrange a 50/50 partnership, how is the actual capital contributions calculated, given that I will be receiving equity for finding the deal?

Your best bet is to try to get all the financial information you can get evaluate the actual numbers (plus come up with a pro-forma of your own), and make an offer based on the cap-rate of the actual numbers.

Your best bet might be to see the house and make the offer there, so you can negotiate properly (without highlighting TOO much the deficiencies of the property) with the owner.