Kept natural exterior brick facade as-is with new energy efficient windows to keep the integrity of the home consistent with the neighborhood.

If Portland has strong economic and population growth the institutional-grade investors will likely find the city more and more attractive.

Joining the military for economic and social opportunity isn't a bad idea, but real estate benefits are quite limited. the VA loan is often a trap for new investors: https://www.biggerpockets.com/blog/va-loan-program-trap-rental-investors

So as you might've heard the stock market took a hit, I've heard some rumors as this being a sign of a looming economic downturn, will it turn out like that? 

I've been researching the topic for awhile trying to understand the economics of the business and where the "value" can best be unlocked, but it always seems that all the articles I find are a lot of talk with very little substance.

For example, you mention Manchester as "not great" yet I have done incredibly well there and could show you a ton of economic factors that show why Manchester works.

@Dee Shaun do you think that an economic downturn will benefit you more than the other scores of investors sitting on the sideline?

I'm fairly familiar with the economics, purchase process, and requirements of SFH and smaller multifamily (less than 5 units), but not so for 5+ properties that are considered commercial.

Questions:Is my renovation budget realistic assuming that should I have to, I can fly there economically to do a lot myself (including demolition and flooring and maybe walls)?

Note that there is no Roommate/Economic Unit agreement in place stating that, "Security deposit will remain with the landlord until the dwelling has been completely vacated by all occupants."