I paid 20k for the first lot i bought in Charleston in the poorest neighborhood of downtown..

C-class neighborhoods there are ideal for Section 8 and long-term renters.

If it could do it what it claims to do in a more streamlined and organized fashion, it could be decent. 

If you're looking at Cleveland, I suggest reading The Ultimate Guide to Grading Cleveland Neighborhoods to get yourself an understanding on the market. thank you!

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

If investors attempt to streamline their services, it can lead to a more organized approach to property management, lowers the risk of gaps in insurance coverage or missed tax benefits as well as simplifies communication and reduces confusion.

That neighborhood is buzzing with potential-young professionals, trendy developments, and a rental market that’s always in demand.

There are so many C+ changing to B and beyond neighborhoods now in the city where a $130 - $150k price point will get you a +positive cash flowing SFH with growing equity in a city that is in a having a rebirth. 

If you want more info on Cleveland you should read The Ultimate Guide to Grading Cleveland Neighborhoods.

For instance, unless specifically called for in the Articles or Organization, LLCs are not required to have Boards of Directors, Officers, annual meetings, bylaws, resolutions etc.