Even so, it does look like most of the increase in rentals is likely to be permanent, particularly in light of the fact that no economist or housing expect I know is predicting a return to the pattern of development and growth seen during much of the past few decades.and the biggest takeaway I have from this work, is that in growing, popular areas like Portland, even if the market shifts back toward ownership somewhat, overall demand will increase for both [ownership and rentals].

Any one had luck with multifamily houses in South Georgia or rural developments?

For example, create more natural light on the interior or develop a better drainage system to move water away from the home. 

My recommendation is to develop a solid budget that will allow you to send at least 2000 mailers every 4-6 weeks to the same audience for at least seven consecutive mailings.

Great first step to learning and investing.Consider developing your profile a bit, it helps other get to know you.Other tips, I highly recommend BP's Ultimate Beginner's Guide, it helps to form a general foundation in the industry.

@Ned Carey, and @Dave Meadows - yeah avl has game. we saw pretty ridiculous appreciation in our neighborhood, like 30% over last 3 years. such little inventory as well. the influx of breweries and the long term development plan for the river corridor / river arts district is so promising. all we need is a surf / kayak wave (manmade whitewater feature) right in the middle of town, and we'll be on the next level!

I would recommend you put your experience to work and develop a basic plan of where you'll work, what your flip criteria is, develop your presentation to the lenders, and develop a simple marketing plan.  

Out of state has it's challenges too, but we have developed a good team of partners on the ground who are our eyes and ears there. 

Here's a few lines from a local bank's recent SEC filings regarding notes: "During the third quarter of 2014, the Company identified problem assets and began the disposition process under the asset resolution plan... the Company transferred $11.2 million of loans held for investment to loans held for sale in anticipation of near term loan sale..."

The areas of north Denver that you are looking were mostly planned developments which likely didn't leave as much infill of other types of zoning.