@Brian Legg Lakewood also has POS inspections, which are stringent. Although if you find a good property in Lakewood with instant equity that makes sense in analysis GO FOR IT! Party city? I don't know about that, but the younger crowd (millennials) are consistent renters. Maybe they might move out after their year-long lease, but all that Starbucks and vegan food costs money! They likely will do what is necessary to get their deposit back. As long as you're not leasing to a fraternity I think you should be fine! Lakewood will always be a popular and consistent rental market, it's a win-win if you find a good deal.
Parma is definitely popular! SFR's are great if you can make an equity play which you can eventually leverage. MFR's are great for blue collar tenants that want a great place to live. As long as you screen right, you should have tenants that take care of your unit and pay on time every month.
I can't speak on Berea at all, I'm unfamiliar. Maybe someone else on here can give you better advice. In my opinion, find a great deal in Lakewood and capitalize on it, or go with what you know and start buying in Parma. Either way, get the first one under your belt (as long as the numbers make sense) and the ball will start rolling with some real momentum from there!
PM if you'd like to talk further!
