This will probably be unpopular but you should save for a few more years even if you save enough for your down payment, if you are exhausting all your savings, you will struggle with any unexpected repairs.

Some are incredibly simple and require little to no repairs. 

However, I blocked the dates until September 20th to complete some necessary repairs.

Appliance repair person lined up, warranties don't work fast enough for STRs, you need to pay to have an appliance fixed or replaced right away.

I have some cleaning and repairs that need to be done in the empty unit along with the common area. 

Turns out, the demand for renovated homes actually picked up, since many locals were looking to move into places without the hassle of dealing with repairs themselves.From what I've heard, Tampa's market is showing some strong signs of resilience.

They may have figured the bid based on rough estimates ($35/sq. feet for repairs, offer 70% of ARV minus repair costs, closing costs and their finders fee).

So I would count on $3,200 coming in minus $500 in utilities and another $100 or $200 in repairs.

There are areas in Cleveland where that's doable, but the neighborhoods are probably going to be pretty rough or need repairs.

The short version: looks like it will cash flow on paper but in reality with repairs and potential tenant issues it won't, very affordable purchase prices (Indianapolis range is $120,000 to low $200,000 depending on the Class C area or distressed properties under $100,000, many times older homes with sewer line and foundation issues, stolen AC units (get a cage for the unit), Class C is volatile.