A couple of thoughts specific to condo investing:1) Be sure to include the condo fees into your cashflow analysis, and budget for potential assessments as projected capital expenses2) Make sure the condo association is solvent - a good litmus test is whether or not the units are approved for FHA financing3) Make sure the condo association rules/regs allow for rentalsGood luck!

It’s also important to be mindful of local regulations and how they impact MTRs, as Cleveland’s neighborhoods can have different rental rules and demand.Let me know if you need any more specific details about Cleveland’s MTR market!

Looks like a pretty straightforward site with comprehensive background check

Anything goes wrong and that $29k depletes fast because itistoo smal, for this side effort - my rule on value adds is they must add value 2x minimum because they have risk and require work.  

Otherwise, just buy a home with no HOA (if you want the option to do MTR and STR and not risk them setting rental rules) with as many bedrooms as makes sense for the numbers.

my personal rule of thumb: $0-$1,000   1 or 2 estimates  $1,000-$10,000    3 estimates min.$10,000 +    5 estimates if possible with full break down of services Unfortunately I don't know of any contractors down there just wants to say Congratulations on your purchase!!!

Depreciation is typically allocated according to the ownership percentages outlined in the partnership or syndication agreement, which are set in advance and follow certain rules under the tax code.However, some syndication structures can be designed with different classes of partners or special allocations, but these arrangements are subject to complex tax rules, such as the "substantial economic effect" rule under Section 704(b) of the Internal Revenue Code.

She's a practicing Muslim so they have very strict rules around not being able to pay interest (what they call 'riba').

If you see someone violating the rules, create a post with "@moderators" and we will receive a notification and respond.Again, welcome to BiggerPockets and happy investing!

Typically a rule of thumb is with no experience and average credit you are looking at 15-20% down depending on the rehab size and complexity.