Well, IMO it just can't compare to some other fast moving markets like Texas and Florida for example and should be considered as a strict cashflow play.Columbus, Cincinatti and Cleveland move quicker with higher demand and more infrastructure also IMO.With said, Toledo's growth the last few years has been whopping and as @Ahmed Alswaiti mentioned is predicted to grow even further this year.Not a fan of predictions and I always advise looking at the numbers in the deal TODAY and if they make sense.Any appreciation is just the cherry on top IMO.Still buying sub $100,000 properties that easily exceed the 1% rule here.Not sure of many markets that can take claim to the same.Just negotiating on a 6 unit in Point Place (Toledo folks will know the area well) for $160,000.100% occupied.Needs around $50,000 in rehab or so.Optimize rents to $4,500+ per month and ARV should be $350,000 - $400,000.Get 4-5 of those and pina coladas in the Bahamas 😁Find me another market with such deals and I'll be there hehe

Strictly cash flow is great for the financial freedom and independence but the wealth will be built on appreciation. 

Doing a cash-out refi is pretty routine. 

The resounding theme I'm hearing is strict screening of tenants (which is supposed to be a best practice anyway, whatever the area) and hands- on management.

Your local banks will likely have more strict underwriting rules than credit unions.Online mortgage lenders are increasingly flexible and might provide HELOCs for investment properties.

Our team (@AJ Exner and I) utilize three very specific programs that allow for cash-out refinances at 3-month seasoning.Clients of mine routinely wrap up their rehab within 30-45 days, lease the property to a tenant, and we start the refinance around 60 days into ownership.

Would you be looking to House Hack or purchase strictly as investment? 

I will say that LTV requirements and even strict qualifications for asset type, condition, age, etc. make it super tough unless the property LTV is below 50%. 

These loans are made for strictly investment and much be purchased in an LLC as well.

You have to be strict with your rules, otherwise people will walk over that line.