Real estate is often full of unexpected and expensive potholes and you don't really sound geared up for that.. 

One mistake or big unexpected expense could ruin you if you only have one or two rentals that are not cash flowing.That said, especially in the current environment, if you are coming from a very strong financial position then there may be times where it may fit your goals to invest in a highly appreciating area with no or negative cash flow.

Yes you will need a permit. 1) you will need to add outlets on each wall as per code...and of course switches for any lights or fans.

Be Patient and Flexible: Market conditions and unexpected challenges can impact your plans.

For instance, one property seems to have an extra bathroom that is not listed in the county records.I plan to make some modifications, including removing a closet wall to expand a bathroom and taking out a kitchen island that contains electrical outlets and a switch.

This helps you identify which factors drive the best returns and make confident, informed decisions.It’s also important to test your numbers with scenarios like higher vacancies, unexpected expenses, interest rate changes, or rent adjustments over the years.

It will be delivered vacant, unfortunately I missed the clause in the contract where it says the sellers can live in the property for up to a week after closing so there will be a bit of an unexpected delay there.  

You might hit a few bumps in the road...tenants who imagine due dates are more like suggestions, or unexpected repairs that crop up at the worst possible moment...but that’s part of the ride.

Cleveland investors often aim for COC returns of 8–12%, so you’re in the right range.Net Cash Flow: $277/month is positive and provides a buffer for unexpected expenses.

We’ve since tightened up our due diligence process.Has anyone else dealt with an unexpected 80% vacancy in what seemed like a stable property?