If you're worried about cash flow, put enough money down so that a current estimated rental price after the home is renovated will cover the mortgage and property manager costs.

Most buyers in Columbus work with a Realtor, finance their properties through a lender, and handle renovations with a property manager.

I would focus on "Ugly inventory" but would pass an appraisal and not be "Subject to" so that I can renovate and refinance on the ARV in as little as 6 months to pull out my initial capital and enough to put down on the next REI.On the flip side Indiana and Ohio would also offer a sale price to cash flow ratio since you can still find a great deal in both states.  

We completed renovated the small house and furnished it.

I'm wondering if I could use a family member with a high net worth on my larger multifamily deals. 

.: @Robin Simon I’m looking to put at least 5% down in a loan and use a larger portion of my capital to buy down the interest rate to take off a couple of points.

Their home in Waldo was also a great deal a Duplex they found for $210K and now getting $1250 a door since it needed renovations.Some advice is be careful with what you by so that you are not paying top dollar or market price for a home that someone just renovated.

@Joy McQuearyRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The larger ones are much cheaper per square foot but the rents for the 1,700 to 2500 sq ft cabins have come down as have their prices. 

Slowly build out a repeatable process...if you continue to change things (as in different types of properties, different levels of renovation, different finish material, different neighborhoods, etc.) you create more variables and make it harder to solve to the problem.I am a math guy and less unknowns/variables you have the easier the problem will be to solve.