The inspection is an opportunity to (a) document the condition of the rental so I can track tenant damages from that day forward, (b) look into any maintenance issues the tenants may be concerned with, and (c) notify them that a new lease is coming and what that entails.As for rent increases, I don't ever recommend keeping tenants more than 10% below market.

Quote from @Jack C.: I am in contact with this lender as well.

@David Pereira there is no shame in buying with cash on hand, F&C.

If you can avoid doing an Ellis Act that'd be ideal, b/c it's still going to "cost you" in other ways.

@Gladys CepedaYou can always ask for a concession for you to put in the a/c units.

I would love to hear from people who run lower end (C or lower) rentals and have managed to run them stably.

c) Can income (rents paid to me) and expenses (e.g. electrician) be paid directly to the holding company? 

I’d do a cash out refi and use all that cash to buy as many C+ class rentals as you can with 20-25% down.

I would say Lewiston is desperately trying to crawl out of Class C status, but it'll take some more years.

I'd look for areas on the outskirts where development has been happening.Well, it appears that the population of the entire Metro area is doing just fine.The housing market and rents continue to be very strong in the C class areas and up in Toledo proper, and quite hot in the surrounding suburbs.