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If you want to be close-in, I am aware of a property in University Park that is under $200k (not yet listed). It will probably rent for around $1,000/month. It is a 1 bed, 1 bath.
Very few agents in this area do both property management and real estate sales. I would not recommend making that one of your criteria in your search for an agent. There are some good property managers that I can refer you to.
I agree with what many other agents have suggested... avoid condos/townhouses! Not only do you have very little control (1 vote) in the HOA you run the risk of litigation with the HOA. Unfortunately, I see this happen all too often. A couple of members of the HOA start having issues (water intrusion, etc) then the HOA decides to sue the builder... then when the lawsuit is filed NONE of the units in the Condo/Townhouse complex can be financed. The units become Cash only sales until the lawsuit is settled. That does terrible things to the property values (often for years) within the complex.
Here is a link to some reviews from Zillow clients: http://www.zillow.com/profile/xafinac/Reviews/
Richard Canifax, Principal Broker
Awarded - "5 Star Agent" in 2011, 2012 and 2013 as featured in the Portland Monthly Magazine!
Janeese Jackson, Principal Broker
Real Estate Resource
Premiere Property Group
My company also does property management, check us out ! http://www.dwellrealtypdx.com
let me know if you need anything else, i'd love to help!
In the $200k price point, you will likely find an older home or need to push pretty far out into the suburbs to find something in this value range. I would look at Oregon City, Canby, Tualatin, Tigard & possibly Sherwood.
Often the best agents do not do both Buyer representation and manage properties, but a good agent will have the resources to connect you to both.