To boost income, consider mid-term rentals (travel nurses, corporate stays), renting by the room, or adding value with minor renovations.

don't be afraid of better markets in ohio like columbus. depending on the capital allocation buying old houses and having to renovate is not the only way to drive value. build rent refinance repeat and build to rent are both very strong market drivers as well and you can traditionally get infill land in areas like columbus in much better locations than where you buy.

I am looking into my first property and have been pre-approved for a renovation loan from a conventional lender.

I have very little debt besides mortgages and have spent my own money doing renovation over the last few years.

Your ability to accurately estimate costs and efficiently manage renovations makes you an extremely valuable partner in any deal.

Initially we did a light renovation on the rental unit and a larger renovation on the 1st floor.

One powerful method is leveraging business credit cards to purchase and renovate properties at 0% interest and zero down payment.

I meant 120k just to purchase the property plus renovation cost, I can even go a little higher than the 120k if the numbers make sense.

But because it is built before 1960 banks do not insure it as it is(not renovated) for earthquake so they do not grant me a loan even though my payslip is quite good 

Light renovation needed, 3 bed 1.5 bath.