Hi and welcome to cleveland!

Check out @James Wise   He has some great info on a, b, c, d and f neighborhoods in Cleveland....

People are seeking out places where they can get yield and cash flow.Before places like Phoenix and Atlanta used to be hot rental markets but now it seems people are buying more in places like Cleveland , Indianapolis , Kansas City , Birmingham,AL.etc The other markets are still hot even though people might not be able to cash flow well because the general economy is doing well , unemployment is half or less than it was during the recession in many of these places and people want to live in those places .

I am a General Contractor and have lived in Constantia, I own a house in Cleveland NY and a house in Camden NY. 

South of the Cleveland crossing area I think there is some 'seasonal softness' that was common in Wake before the out-of staters bought the place up.

3) What area of cleveland is it in?

Louis or Memphis or Cleveland.

If the property were located in Los Angeles it would be a great deal if in Cleveland it would probably be average or below average.

I'm originally from New Jersey (specifically South Jersey, even more specifically off Exit 2 on the NJ Turnpike, for all my fellow Jersey people out there), and went to college in Cleveland.

Research Cleveland, Texas, Detroit, Chicago