When scouting a property as a real estate investor, these three factors are paramount:Location, location, location: It's a cliché for a reason.

So, as an example, if you look today and you see that various sources lead you to believe that you can rent it for $1500/ month, that number can change quickly in a week (let alone 3 months) based on other factors in your local area - such as a similar property suddenly gets put on the market for rent.In addition, there are different ways to approach your rental amount. 

Here are a few key metrics and factors to evaluate when making your offer and negotiating the purchase:1.

Always check flood maps and factor in flood insurance if needed.Historic Homes: Bay City has many beautiful historic homes.

Account Closed, I didn't mean to scare anybody away from Columbus but rather provide some factors to be aware and cautious of. 

I did some research on BP via reviews on realtors that were in the Cleveland market and met on teams/zoom and chose the one I felt was most trustworthy solely based on volume of good reviews, some social media presence, and other factors that provided value to me.I got into investing after reading about section 8. 

I love it because it does not factor in my Debt to Income and just qualifies the property.

Property Valuation and Cap Rates Impact: Rent control can affect property valuations by reducing the potential rental income, which is a key factor in determining a property’s value.

Then there's other factors to success especially in a heavy lift like this, some of the most important in my opinion are Being on site regularly to manage the contracting processHaving a lot of cash reserves - 'a lot' imo would depend on how thorough your current bids are and how old the property isYou mentioned it's bleeding cash now, whatever your timeline is for the property bleeding I'd double it and see if it still makes sense. 

Buying correctly is another large factor (in any RE transaction).Of the comments above from Evan, while it may appear to be scary and cautionary (as it should), don't let it discourage you either.