Cash flow is low on the list as they are already wealthy.As lease term gets shorter the cap rate tends to rise because if less than 7 years left on remaining lease term then most lenders won't touch it.

Low inventory, prices are rising in the area.

However, with virus cases on the rise I have begun to get concerned about my liability as a land lord if one of the occupants gets sick.

For years I have watched home values rise and have often found myself wishing I had purchased real estate - land, a home, etc. years ago because the values have risen.

The goals you have influence your decisions and they determine, largely the metrics you choose to use to guide your decisions.Briefly - it's a seller's market here right now - virtually every SFH I've either sold or bought has been a multiple offer situation in the past 10 weeks - inventory is historically low and rates are low and prices are projected to continue to rise over the next year at least in the SFH sector so selling right now - all things being equal would be relatively easy which could stabilise a 1031 situation - however if you plan to buy in a tight market ( Oregon) that would compromise the original impetus to increase cash-flow.It is entirely possible to manage a small remote rental yourself if you have support locally and want to maximise cash-flow - 10% of $2150 = $215 + $120-170 extra from refinancing if you do not extract any equity = $335 - $385 extra revenue per month if you harness the PM fee and the reduced mortgage payment.If your objective is to grow your portfolio then you might want to leverage the hot SFH market here and sell - maximise your selling price ( good Realtor and good target market asset positioning) and invest in a below market Triplex that you can force appreciate and set yourself up to pull the equity in a refinance event later down the line, collect good cash throw off and leverage the asset to speed up your portfolio growth...plus owning a MF builds your lender credentials more than a SFH if you want to scale up in the future.I always have my clients clarify what their primary goals are with their investment portfolio - it matters and it really helps you to get clear so you can recognise what a good opportunity is for you.

Rent increases in SFRs and 3/2+ are lower then the apartment 1 bed stat, plus we are seeing an increasing struggle to find good tenants at the rising rents, thus limiting the rent increases. 

Is it worth pursuing my license to be my own agent in future to take advantage of the rising prices and use the commission in my favor to negotiate future properties?

The neighborhood values are on the rise but still not great.

@Andrew Der median valley home price is now ~$340k and rising steadily.

Prices are rising, but obviously nowhere near as much as in Sheridan.