Not many traditional multi/family opportunities other than good homes near the University or apartment buildings but there are many deals and solid investment opportunities for someone to get in for under half $500K. 

Use 400K as a DP and you'll get a solid deal.

If they are coming on as partners with ownership rights instead of lenders, you would likely have an LLC operating agreement or JV agreement that dictates everyone's roles and responsibilities. 

Maybe pay more attention to new building codes in heavy weather areas and update instead of relying on grandfathering?

Is hiring a property management company the only way out, or are there other ways to manage these responsibilities effectively without it consuming my thoughts?

We're seeing no decrease in rents for our LTRs in far northern CA in solid B to B- neighborhoods.

Here are some things to consider:Most of Cityfheps are coming directly from the shelter and with my experience it’s hard to vet them since they want to be out and you do not consider income and credit. in general they are not used to keep an apartment (recycling, cleaning etc…) since they do not have any responsibility at the shelter and some of them stay there for years.The city will mail you the payment and usually it’s twice a month.

Some solid insights as to how we've grown over the last few years as well a as a peek into the future.

Hey guys, I'm based in a very recreation-heavy area in Central Oregon. 

Unfortunately, the GC's responsiveness has dropped significantly, and communication is sporadic, though he does stay in touch with my realtor occasionally.