BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

I’d also look into using an FHA 203k renovation loan, allowing me to buy something unqualified for a standard mortgage, which would weed out a lot of competition and push the price lower.

I highly suggest working with an investor friendly agent so you don't buy in the wrong locations.I like the west side of Cleveland.

High rental demand (Section 8 too).

High rental demand (Section 8 too).

We had to enter in holding costs, holding time (time value of the money), ARVs, rehab costs, a contingency reserve (a little extra to cover unforseen stuff), a reasonable profit margin, etc to get to a "Strike Price" as we call it.

Would be curios if folks have also just included the cost of utilities at this price and left it unpermitted.

I do manage some properties near ACU & HSU and I would highly recommend that area. 

Purchase price: $615,000 Cash invested: $630,000 Sale price: $1,500,000 New Construction

Focus on long-term rentals in affordable markets with reliable cash flow, and steer clear of high-cost flips, lower-class properties, or overleveraging in areas that rely solely on appreciation.Good luck!