Second question- am I on the right track- move on, and leave this property be, if loss to lease, vacency, and submetering are the only value add plays, in a C class (not "hot and trendy") neighborhood?

YOU work in Vancouver or WA and you pay NO state income tax.. your partner has some hiccup on the drive but its only about a 3 mile traffic jam then your off the freeway on surface streets to Portland State... and there is a huge water front deal going on in Vancouver.. it could be a real good play .. but something to check out.living down south like Newberg or anything like that is a non starter unless you want to drive an hour each way.but I have two duplex's that I can send your way they are both in Beaverton and are off market I would let you look at those before we list them and deal with multiple offers etc. in the process of rehabbing them now.good luck with your search.. if you can handle the weather here it can be a nice place to live like its been raining for 2 straight days.. many of us Californians really get sick of it and want to go back home LOL..

In doing so I will need to redo the electrical to be 3 prong with a ground in order to have enough power for the new AC system.

Eric, getting the right context and building your power teams is a great start.  

It will be interesting to see how it plays out.   

As long as the powers that be concentrate on the big guys and I concentrate on covering my butt my life is easy.

I'm far from a professional, but I've played the game you're referring to a couple times.

@Ming LimI've played with Killam and Brookfield properties over the years ... both ups and downs.

I built and sold 3 successful tech companies, was a CTO for two top US firms in DC as well, so let me play Devil's advocate — AppFolio and Buildium both offer reoccurring task/maintenance features for tracking such items like filters, law care, etc., however a simple operations change will fix all these issues.

Now that I will be renting it out, and renting a place for myself somewhere else, how will the taxes play out, will I lose all the tax incentives from the mortgage?