@basitThank you for these considerations.

Exception #2 would apply to your condition:"Within a dwelling unit or sleeping unit in a Group R occupancy, habitable spaces and hallways shall have a ceiling height of not less than 7' above the finished floor.

Second, the height of the railing is a little shorter than code allows, or I am comfortable with in a rental.

As far as 1031, Indianapolis has a lot of development with businesses moving there  so that could be a consideration, not sure how far you are from Indy. 

Also, if the subject property is in California, or any other DOT state, you have some additional considerations with the conveyance. 

Now, for long term rents I did not/would not pick it if the home is in Shaker Heights.

One attractive factor for me is the recent announcement of the tallest tower planned to be build by 2030 that was recently approved with  no height restriction.

I will definitely be visiting the one in the Heights soon.

I appreciate your consideration of my deal and welcome any solutions you may have. 

Hoping to learn more about: best practices, risk management, legal Considerations, and most important building long trust term relationships with borrowers.I deeply believe in the power of community and learning from each other's experiences.