So my rookie question is how people are investing in the Portland market.

If you are prepared to be a resident in one of the units and rent the others out FHA will allow you to Borrow from them providing you meet credit requirements, income requirements, and length of term working.

The question is whether I should utilize most of this equity for a downpayment on a MF home  (typically 3-family homes are around 450-500K in my area)?   

Quote from @Jules Aton: Quote from @James Jones: Great question, Melinda.

Quick question, would you rent to those on social security income and what kind of proof of income would be acceptable?

@Harvey McMurray Great question and right up my alley.

I was thinking about signing up for the pro version. Does anyone know if Invelo is good?

Great for 30-year fixed stability.• DSCR loans – These qualify the property based on rental income rather than your personal income.

Quote from @Nathaniel Carter: Seeing more investors using DSCR loans lately, so I wanted to share a quick summary of why they’ve become so popular:Benefits:No income or employment verificationApproval is based on rental incomeClose in an LLC30-year fixed ratesWorks for long-term, short-term, and mid-term rentalsGreat for self-employed investorsGreat RatesThese loans have been helping a lot of investors scale faster, especially those who hit DTI limits with conventional lenders.If anyone has questions about DSCR structures, cash-out refi options, or how to qualify, feel free to drop them here — I’m happy to help. 

I may not be answering your question with this, but I'll certainly try.