oregon has no sales tax and prop tax's are more in line with the 1% rule but income tax is 2nd highest I think and then if you live in the Portland metro area there are 2 other layered tax's that dont affect lower or middle income but higher income you can pay an additional low 6 figure tax to shelter the homesless and pay for the metro line.. but Oregonians love their state and most that are born and raised here will never leave..

I was wondering with the building fully occupied is that already considered equity in the property so for example 3 units pay 1,000 for each unit grossing 3,000 a month (36,000) a year would that be already 36,000 in equity?

Or is this the government trying to catch you on discrimination based on source of income?

Ready to move to a more economies of scale investment with multiple ways to increase income.

Comparing to comparable STRs in the neighborhood would be the best way to determine your potential income 

That property is still in my portfolio and is still generating income and building equity for me.  

Our primary residence has a lot of equity, we have great W2 incomes, and >800 credit scores. 

In the US, anything with four units or less is financed using comps, not the income approach.

What's the income on the ground lease and is it nnn?  

Keeping a good tenant is important - vacancy is one of the highest expenses for an income property.I would approach this by checking area rents and then raising the rent to just below or to match the comparable rents.