But, there are still deals that can make sense depending on your budget. 

This really depends on what your looking to do however for a very basic overview far west side is great, downtown and very close to the Cleveland Clinic, Little Italy, Tremont, and Ohio City are still great areas.

It depends on your lease terms.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

If the property does not require an extensive rehab and just needs cosmetic repairs then a standard landlord dwelling policy in most cases depending on the carrier.

I felt confident that this guy was dependable and wanted to pour gas on the fire.I increased the number of hours Marilyn was working and ordered another batch of direct mail, all at my sole cost.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

If an investor has the time, knowledge, capital and experience to be an active property investor then there are a number of strategies , that, depending on the economic market can be used to accelerate wealth building.  

@Helena Goyvaerts rate for a 30-year fix would be at least 8.5% with some points (1% of loan amount).Most DSR lenders have a minimum credit score requirement from the applicant.

I’m going to disagree with @Chris Seveney and say whether an assignee could force a sale directly would be a state law issue and heavily dependent upon the contract terms.