I also know the assets pretty darn well that the OP has bought and I am a firm believer with that class of asset getting them paid off is really the only way to get to the point were they think they are going to live on rental income..

The owner lives a few hours away and is selling off most of her rentals but this one is too much for her to deal with any more being so far off and it being a lower class type community, she claimed the tenants are all loyal bill payers even through covid.

The appealing aspect here is the ongoing population growth and other economic factors. not just appreciation almost everything about columbus beats Cleveland. columbus has submarkets with similar cash flow like lancaster, newark, Marion, etc that are still considered part of the MSA I wouldn't touch CLE the average price per housing unit is too low unless you are in a Class A area.

Just make sure you undertand the challenges of the different Classes of properties/tenants.We operate in Detroit, which has been coming back strong for the last 5-6 years.

I have a similar experience to Nicholas - rented out my Indianapolis suburban home that I lived in (Class A) when I moved back to CA.

I typically don’t suggest this, but given your current income I would go after class A/B+ assets with low maintenance and with much greater chances of appreciation potential.

Pittsburgh is still affordable and there is an abundance of distressed properties ready for investors to restore and add value.Check out AirDNA and Rentometer for up to date rental data.Our local ACRE chapter has monthly meetups and classes that are great for learning and networking. 

The study identifies with forensic engineering detail the immediate Bonus Depreciation 5, 7 and 15-year personal property class lives qualifying portions of a building that are normally buried in 27.5 year residential or 39 year commercial categories.

High LTVs, short maturities, mezzanine debt, outside preferred equity, and multiple share classes (the recently popular A/B equity structure) all increase risk. 

Great chance we are quickly creating a permanent class of renters or expanding it.