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.

I am not sure if I should stay local to my market.

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

It seems most off market deals I've found have been from larger acquisition groups.  

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.

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

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

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

. 🔥 Chris Voss"The Master Negotiator” & Author of Never Split the DifferenceLearn high-stakes FBI negotiation techniques for real estate deals 🏆 Dave MeyerHead of real estate investing at BiggerPockets14+ years of experience in real estate investingExpert in housing market analysis and investment strategyVenue: This year BPCON will be held at the legendary Caesars Palace in Las Vegas.