The bank will want something as a release of liability in selling the note to an individual or non-banking/mortgage company.

We put $75K down to begin with and likely have $85-100K in equity ( depending on what non-scientific source you check since I haven't had a full appraisal done) on it.

For STRs, material participation rules apply, and STR income is treated as non-passive, allowing losses to offset active income.This post does not create a CPA-Client relationship.

The house was on a crawl space, which will become important later. 

The small multi family space (4-20 units) seems to be less crowded, but those deals can be hard to manage unless they’re within a couple of hours from where you live so you could manage or turn it yourself if you had to. 

As @Patrick Drury mentioned- the West Side does not have any POS areas (besides Lakewood, but it's only needed for previously non-owner occupied/rental properties) Something else to consider in Cleveland proper is Lead Safe Testing ..

Delegating up front will help you open up brain space to expand and think about how to add to your portfolio, rather than running your portfolio.2.

This means a 3/2 and a 1/1 instead of a 2/1 and a 2/1 since you can live in a smaller space to make more money.

There is not space for new buildings.  

I assume in the winter months they would perform well, but in the spring/summer/fall (non ski months) how do they perform?