Although we’re not a local bank or credit union, we are independent mortgage brokers with experience in financing options that consider rental income rather than personal income. 

You can definitely find multifamily options under $150k in Cleveland, but when it comes to Columbus and Cincinnati, that price point is pretty much a no-go.

The other option is a water supply line, but that would typically resulting a steady leak and the damage would occur faster.Really think about what is above that space that could cause the issue.

Given the high interest and the purchase price isn't low, the cash flow won't be as nice as my other rentals or other options in a different neighborhood. 

I wrote this not too long ago about why I think turnkeys are a great option for newer investors-https://www.biggerpockets.com/renewsblog/turnkeys-...Hopefully that adds some info in for your to consider and anyone else reading this. 

Transitioning to a Second Property with Low Money DownIf a second FHA loan is not an option, here are alternative strategies to minimize your out-of-pocket expenses:Conventional Loan with 5% Down: Once you’ve added equity to your current property, consider refinancing into a conventional loan to free up your FHA eligibility.

You buy the right to collect the remaining amount left on the defaulted mortgage.Once you have the mortgage note you have a few options to move forward.

Median home values are $170K range, Median rental income $1,275, YoY home value growth 7%, YoY rent growth 7.93%, Rent/price ratio .74%, Population 117K.I also have my eyes on Watertown, NY; Warren Robins, GA; Gulfport, MS; Knoxville, TN, Rocky Mount, NC & parts of OK.There are plenty of options out there --- hope you find something that fits your buy box!

If you sold it, what would you do with the money and how does the return compare to what you get now (factoring in the amount of work/stress with each option)?

Hi @Leonard La Rocca III welcome to BPWith a goal to house hack your option will be much better and tremendously more favorable.1. $50k gets you the house but leaves you very little room for value add.