Where you stay can be pretty open as there is pretty good public transportation and bike-ability just about everywhere. The only big hills are between Portland and the westside (where I live) but that's avoidable if you aren't commuting. It's no where near as hilly as Seattle! Plus, Feb/Mar is not really the time of year to embark upon serious mountain climbing rides because above about 2000 ft, there is snow in most places. I haven't been riding since last summer, so I'm not exactly bike fit myself. My rear hurts just thinking about riding!

For lodging, I think there are lots of different types but most likely nothing is going to be super cheap (Airbnb is probably the best bet). Portland/Oregon is affordable in many ways, but living arangements (rent, real eastate, hotels) are usually not one of them and getting worse every day. Of course, Feb/Mar is not the big tourist season, so there are probably deals. I know nothing about AirBnB except that I have a friend who works for them here in Portland (in HR). I did just stumble on this place the other day and it sounds like a fantastic location to have as 'home base' here in Portland to get a good feel for the vibe here: http://tinyhousehotel.com/ Plus, it's super neat!

Depending on her biking schedule - we may be able to arrange at least a dinner date with Jeff and Susan while you guys are here! I think you'd like them both a lot...I do.