We evaluate the asset off the current cash-flow, building condition, performance compared to peers, rent rates compared to market, and overall health of the local market.

Despite the dip in occupancy, rates remained stable or even edged a bit higher compared to last year.

If you're having someone view the property for you, have them take videos and photos of the entire property.LTR vs Airbnb - run the numbers and compare the pros and cons of both.

In general, we have found that PMs in cleveland are very expensive when compared to other markets we are in.

The property prices are more reasonable compared to many other markets, and there seems to be a healthy demand for rental properties.

You can find great 2-4 unit buildings at reasonable prices (compared to New York City), and many of them need to be fixed up, which is an added bonus of equity if you are willing to tackle a renovation.I'd suggest somewhere along the blue line (train) in the northwest part of the city, where you can find some priceless neighborhood vibes.Plus, the real estate community is unmatchable...tons of people willing to give you a hand up.

You could check out the website and compare your draft business plan to the information provided by the SBA and it may help you fine-tune your plan. 

My fingers are cramped from crunching market data that was almost comparable to Lawton's.

@Kyle Rucker- thanks ....you will have a tough time locating a 2nd loan for  180K +  ....Ask the realtor you are working with for options ...Make sure that the lender holding the FHA loan will be able to approve your assumption  request  ( this can be a long drawn out step ) .....if you do find a 2nd mtg - compare the fha loan and 2nd mtg  to a  simple new FHA or conventional loan as there may not be a large difference 

Platforms like Rentometer and Zillow can give you rent data to compare properties.Networking Locally: Reach out to agents and local investors.