From what I've seen in this area right now, it seems like you'd have a hard time paying market LTR rents and making a good spread. 

Need an advice if this would be a good idea or not. 

There are some pockets in this lower price range but they are hard to find and sellers won't let them go for the price you want often. 

The information contained in this post is not to be relied upon.

Purchase price: $380,000 Cash invested: $135,000 Annual rental to be turned into STR when tenant vacates What made you interested in investing in this type of deal?

Quote from @Morgan Leiviska: How I would build this database for you would be to connect with people at local meetups that you find.

Do not expect to keep them and be prepared to have to evict.If the jurisdiction this property is in requires anything in place in order to evict such as rental licenses, etc., get them in place before discussing an increase with the tenant because it's much easier to get inspections and repairs done when the tenant cooperates.

This is the recording of an "affidavit of facts related to title" under Ohio Revised Code Section 5301.252.

A few tidbits for anyone else reading this.  

I do this when I have a problematic tenant that may push back.