This will help vet those contractors looking to take advantage of folks, in particular since you’re investing from afarFocus on punctuality and communication – did they show up on time, did they return your call/email in a timely fashion, do they keep a well maintained vehicle, do they communicate in a professional mannerVerify IDOnline search of their name and companyReferences with phone numbers, and previous work – call the references, find out the type of work done, does the type of work they’ve done match with what you’re looking forGet a detailed, written scope of work (SOW) along with a detailed, itemized contract – define the payment scheduleHow will the payments be structured –are they asking for money upfront (potential red flag)Hire a licensed, insured contractor that is in good standing with the Better Business Bureau, and the local consumer protection agency; check the license number, insurance policy, and bond.

The upstairs is zoned for a rooftop deck which is big money in union square.

ALL Investors, regardless of who you are working with, ALWAYS do your due diligence and ALWAYS suspect foul activity if you are ever asked to pay for something up front combined with other red flags!! 

@Randy Johnston We're toying with the ideas of vacation rentals, however, zoning code is a bit restrictive in PDX for multiple units in a building going to rentals under 30 days.

Sadly this happens a lot. banks sit on properties due to their own bureaucracy a legal red tape.

I went to MFU 6-unit specifically for this reason - - to generate cashflow, not red ink.Basicially, your SFR rent less mortgage, taxes and other expenses must exceed your rent to avoid red-ink.

Jd Martin Month cost for hold will be 650 roughly so one vacancy would put me in the red

Glad it's working out - I also heard the rental market is red hot in that area.

Generally though these custom programs tap into title co data bases ( think Fatco) and with a few clicks you have a lot of information on the property. some tie into Zillow type data as well along with Red fin.. showing you MLS listings and solds.its pretty cool really.. and separates the folks that do it for a living from those that are just trying to buy a house or two a year.

Most of my buyers stay out of war zones, not to say that you can't wholesale properties in the ghetto but it's a little harder usually.