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My two points of concern:
1) Actually getting financing for the place, and
2) How to sell a huge house in a not particularly great neighborhood.
I don't know how the market is in Oregon. Vermont's real estate market is hot hot hot in Chittenden County, but even here that place would be a tough sell. Nobody wants a 6 bedroom mansion in a crummy neighborhood unless it's going for a fraction of its worth. I expect the places to be able to renovate and then make a profit on are going to be the smaller houses with some convenience in their location.
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