@Sven D. check out Oregon Chapter 646A Trade Regulation, specifically sections 700 to 765, referred to in combination as the Mortgage Rescue Fraud Protection Act.

This market may not be the best entry point for a newbie--screening tenants is a skill that is learned over time and it is absolutely critical to success for this type of property.  

If you want to put yourself in a better financial situation for the time being (which sounds important to you, judging by the wording of your post), then pay off the debt now and save up for a purchase further down the road.And just to put it out there, the reason why buying another rental would accelerate passive income goals isn't just because of the cash flow but also the tax savings and equity+any appreciation that will play a factor in case you want to do a trading-up strategy later down the line where you sell your properties to buy an apartment.

This city is highly skilled at turning simple transaction into red tape nightmares!

Every step I took I could have been better and more skilled.

Until I am comfortable I know the skill set of my borrower I will not participate in the project unless they put some of their own funds on the line.

You might have a vacancy for a month but the trade off is a better grade of tenant.

What are you trying to accomplish, learn the trade?

We need your  Financial Analyst skills, too.Still don't see a job you'd like, but want us to hire you anyway?

I feel it'll be easier on my eyes with paperwork and numbers when it comes time to trade one of them up, by having them separate.