I want simple - quick picture as soon as I leave the store, so I don't have to track expenses.  

Being cheap about repairs leaves you with unhappy tenants who will not take good care of the property because you don't.Send a licensed plumber ASAP.

I'm looking into purchasing a rental property in the Belmont area of Dayton, OH and wanted to get any insight for this market as it seems concerning that the average rent is higher compared to the actual costs of houses in the area.

They spent 1K on them from upwork and it helped resolve concerns in the meeting real time with some neighbors had who were just picturing the project their own way which was completely different than what the emerging developer was proposing. 

Depends on really what you are looking for:-Speed - some HMLS can go "no appraisal" so can close very quickly and beat cash offers if you are in a competitive market to buy-Interest Rates - can range anywhere from around 8% to 13% (same with "points") but not usually as huge of a concern for flippers since the terms are so short-Leverage - depending on your risk appetite / capital - this is also a top concern for some (almost always over and above rates/fees) can see anywhere from around 80% LTC to even mid 90s LTC (including 100% of rehab budget)

@Anthony Dupre Why are you so concerned with anonymity?

- Legal and Regulatory Concerns: Are there any local laws or regulations in Fredericksburg, Virginia, that I should be aware of regarding pets in rental properties?

Can't you come together and figure out a solution where he returns and addresses your concerns and collects the $2K?

I know that my COC my be lower, etc but my main concern since its my first property is being cash flow positive.  

I understand not buying more up there, but your initial investment there will turn out well.You can check out the BiggerPockets video podcast and leave a comment if you have questions.