I needed some extra financing on my first rehab and opened several 0 apr credit cards which I used for materials and payed them off before any interest.

It could be anything... a mistake in estimating, a cost overrun, or something like the place burns down and the insurance wasn't properly taken out, or theft (of the money outright) or theft of materials along the way.    

It’s tough if you’re flipping in under 12 months.

They must satisfy "material participation" test for their STRs to utilize the strategy.

If you continue using it as a rental but reduce STR activity below the material participation threshold, your deductions may become passive and subject to loss limitations.2.

It's tough to give a definitive answer without knowing your specific investment goals (cash flow, appreciation, etc.) and preferred strategies (BRRRR, wholesaling, etc.).However, since I'm a Cleveland native and active in the real estate market here, I can offer some insights on why Cleveland could be a good fit:Affordability: Compared to many other major metros, Cleveland offers a relatively low barrier to entry.

But, it is tough.. 

2 bedroom 2 bath at 700 sq ft will be tough. we get 2 bed 1 bath in 668 sq ft.

Construction crews leave their tools and materials on job sites with doors unlocked and theft is extremely rare.Location, location, location.

You are out in Cali so it is tough to get a good cash flow deal but if you have a comfort level check out states Like Indiana, Ohio, Florida, Las Vegas, Tenn, Georgi and a few others.Unlike Cali you can still find a decent 2-4 unit in states Like IN, OH and FL for under $250K with rents at or above $1250 a door.