There are plenty of older homes on the market that do not have closets.You need 2 egresses (including 1 that goes outside) such as a door or window, size about 70sqft (local codes may differ), ceilings at least 7ft high, and it cannot be a walk-through passage.As always, your local codes may be different.

Since it is a family member and I would potentially buy the property for under market value.

Very interested in the Cleveland/Ohio market in addition to a few other cross-border cities closer to Toronto. 

I'm actively seeking mentorship from someone with experience in similar markets who can shed more light on this process.

I’d recommend looking for a market that’s affordable and has good rental demand—local job growth or proximity to schools can be a sign of a solid investment.

I am guessing his hands are tied as Norada is simply the marketing company and I am guessing no operational control of Wagner.

The cost is minimal and I am smoking the closest competitors in my market.

The strategy may change, but every market can work.

Sounds like mostly a marketing thing from what I just read.

Myers Market Update Feb 2024 (biggerpockets.com)