New Investor: How is the Cleveland Market?

[Emma S Endicott]

Hey all!

I am BRAND NEW to real estate investing and super excited (nervous) to get started. I live in Salt Lake City where the housing market is ridiculously expensive and not really practical for me to get into. Looking to purchase my first multi family house by the end of the year. I've been doing propery analysis' on a lot of different cities and Cleveland seems to come up consistently with high cash flow and cap rates. I've noticed property taxes are super high, but including that high rate, a lot of properties still seem like a great buy. Am I missing something in this market that is a huge drawback? I'd guess repair/maintenance may be higher than average because of the age of a lot of the homes... anything else?

House example:

1825 Lakeview Rd, East Cleveland, OH 44112

$2500/mo cash flow

18% Cap rate