Assuming property taxes + insurance added don't go above $1,100 total, you could maybe make this work. 

Of course to maximize your tax benefit it needs to be sustainable over time. 

Britt,My firm has evaluated some smaller properties (under $500k) in the past for cost segregation, and it generally does not cost justify moving forward, since the benefits are small, and typically the tax liability on the income is minimal if any.

Also HELOC's typically have lower interest rates than personal loans since it is secured by your home.

These are features like online renter payments, tenant portal (for payments and work orders), help keeping track of work orders, tax reporting features, and accounting functionality.

You could bring less down and possibly have a lower interest rate since you will be living there.

You're giving up some good tax benefits since you're in the tier of taking itemized deductions.

Zachary,Your concerns about Cleveland are valid—high property taxes and stagnant population growth are definitely challenges to consider.

Bad- if your income tax is lower over there you still have to pay up to the US rate.  

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).