@Isaac TerryIn terms of it being worthwhile, just like most other markets out of state if the barrier or entry is too high where you live, the landlord laws are not favorable where you live, and you are looking for positive cashflow then Cleveland can be a good option.

On another note, we recently had an epic snowstorm in New Orleans, where we own a property.   

Also if you ever have follow up questions you know where to find me :). 

Typically, the adjustments I see on appraisals for basements are more flat rate adjustments. 10k is usually the number I've seen.What stinks is that there are a couple of model types that have below grade space where the builder, I'm sure, was trying to lower the taxes by having it below grade so the county wouldn't count that space in the assessment.

Bottom line, this is a short-term rental in a market where the average nightly stay is 2 nights.  90% of those are on Friday and Saturday night.  

Tell me your favorite deal that you negotiated and where you found it.

Local Texas only banks will be where you can find them.

The market where the warehouse is is 25 minutes from the previously mentioned area and has a popluation of 4500 people.

@Robert Gorra - I've had a similar experience where I've had a really hard time with getting GC's to even give me an estimate, and the few that have have been way overpriced (ie, they want me to put in $20k of cabinets in a budget flip) or have had their prices go up by about 40% and still not give me a firm price when I try to nail down the scope of work.

Is there a demand clause where they can call the loans for no reason?