I have the dream truck I want and don't have the desire to spend on a vehicle.  

I took out a $25k mortgage and sold 2 cars to get started.  7 figures of business later its definitely paid off.Regardless of who it has and has not worked for, this is a very personal decision with no wrong answer.Is your desire to create a life you want greater than your fear of losing that money and more? 

ARV – Desired Profit – Closing Costs to Buy – Repairs – 10% of Repairs – Holdings Costs – Concessions – Realtor Fees – Closing Costs to Sell = Your Offer (MAO or Maximum Allowable Offer).ARV: After repaired value or what you think it will sell for once repaired.Desired Profit: This should be taken off the top first.

-Homes valued 50-75k -Cash Out desired: 40-60% Is this doable with an individual property like this?

While I can't speak for Cleveland, here in Kansas City the $15,000 neighborhoods just have vacant lots with a few houses here and there, there are no jobs in the area, no amenities in the area, the schools are horrible  . . . while that $15,000 could be spent on a down payment a few miles a way in South Kansas City, Raytown, Independence on a $50,000 to $80,000 house and you may not get the same returns on paper as the $`15,000 house, but you have less back end expenses, tenants who have jobs and the desire to feed their kids good food and send their kids to better schools and more occupied houses . . .less vacant lots, so less breakins and theft.Move up on that price range to  an $80,000 to $120,000 neighborhood and you can do even better.  

However, my California RE mind sees the prices vs rents and am bewildered by such statements.As of now, these are my desires in properties:a house or townhome built after 2000 - I prefer after 2003 turnkey condition MOST PREFERABLE, but not necessarily a requirement at least a 3+2 neighborhood well kept and not too much crime $50-$100K, short sales are acceptable Close to transportation and/or the fwy Relatively close to downtown and the airport (10-20 min when there is no traffic)Seeking cashflow, appreciation much lesser priorityFor rent of 800, the PP cannot be exceed 60kFor each additional $100 of rent, the max PP can only increase by about $12.5k.If you see immediate issues with these desires, PM me so that we can talk about it offline.

I'd love to chat more to get a better idea of what you are looking for (type of neighborhood, assets available, timeline, desired return..) as well as what why you are investing (buy/hold short or long term or rehab/flip).  

The "B" classes are desirable to live, but with any "C" class area, the tenant really does not choose the area, the area chooses them.

Hello there everyone, I am a veteran exiting the Army soon and I desire to become a Real estate investor.

Would love to hear of any other great tools out there.www.rentometer.com - compare rent for a specific address to the surrounding areawww.rentlingo.com/where-should-i-live - heat map for desirability of specific areaswww.areavibes.com - provides info about desirability of areas.