I’d connect with a lender to get pre-approved, a local real estate agent to find a good deal, and a maybe CPA to make sure you're taking advantage of the tax opportunities and get set up correctly for future growth. 

A potential section 8 tenant applied today who is unemployed, with $5K in collections from various companies and a 580 credit score. 

Given Portland’s rules and prices, keep it simple and conservative: define a tight buy box (SFH 3/1–3/2 or small duplex in stable, landlord‑friendly pockets), underwrite with real taxes/insurance from the address, PM‑verified rents, and a healthy repair/vacancy buffer; ADUs can work but pencil them as a bonus, not the reason the deal works.

Private lenders and partners often care more about trust and a solid plan than perfect numbers.

If Rent is $1300, set up Tenant to have a monthly receivable for $300 (for example) for 101-A, and a separate monthly receivable for HD for $1000. 

Brilliant idea and a great investment for the future. 

We originate both hard money and DSCR loans direct, and as you know, the yield and margins are very different between the two.For those of you running similar models:How are you setting up your comp plans?

20k purchase price and a decent up and coming neighborhood How did you find this deal and how did you negotiate it?

It's podcasts all day at work, reading or on BP on my lunch hour, and a few you tube videos before bed.  

Rancho Cordova, CA - there's a VA hospital down the street, and a Kaiser Permanente around the block.