BRRRR in Cleveland And Akron?

[Jerad Miller]

Hello BP community! 

I am currently looking to get into multi family rental property using the BRRRR method. I'm looking at properties in the Cleveland and Akron areas of northeast Ohio. A duplex can be had most times for 10k-20k and sometimes even less. They all obviously need rehabbed. I am just worried that once I buy and rehab I wont get a high enough ARV to refinance. I can't find any good comps, It seems a lot of the properties sell at this price and none are selling that are turn key and freshly rehabbed. Neighborhoods aren't the greatest but rents go from 450-650 atleast. None I can find on zillow are rehabbed so I'm not really sure what the arv will be. I don't want to go off the zestimate because we all know what a crock that is! My goal is to be all in on any given property for under 25k with purchase and rehab which I think is doable. I would like to see atleast a 50k-60k arv. I will do most of the rehab myself with my partner (my father in law). Anything we can't handle will be directed to my contractor who is a good friend of mine. As I've read it seems like for any bank to refinance the property will have to be worth atleast 50k. Hopefully someone from the area can chime in and help me out. Any help would be greatly appreciated! Thanks again.