I would even spend a few dollars on grading the soil and maybe even get a few test done, environmental and feasibility study..But yes I wouldn't do it alone.. no way

I definitely agree NYC will always be a grade A market and a great place to invest if possible.I'm just stating there are thousands of miles between the Atlantic and Pacific Oceans.

Welcome to the site Tadela. 1st thing you should check out is going to be The Ultimate Guide to Grading Cleveland Neighborhoods.

I think your being very closed minded thinking that they must be replaced (which I would not as other said, since they do not hold up well).I would see if you can find a carpenter or flooring guy that can give you a quote on sanding and oiling (using the proper food grade oil for butcher block countertops).  

I buy properties based on factors like the local tenant pool, the grade of the property, the grade of the neighborhood, the possibility of value add techniques, etc., etc., etc., but I've never bought (or not bought) a property simply because of its age.

Does your pharmacy give you a free meds for fixing their toilets? 

Those higher returns you think you will get for cash flow will easily be wiped out by the constant turnover of low grade tenants who rarely pay consistently on rent.

The fixed income market is offering +5% for investment grade.

Trying to manage a PM without any personal property management experience is a bit like trying to manage a law firm without any legal experience, IMO).What grade is the property and the neighborhood?

In Ramona on 1/2 acre, you'd be able to build a nice big 1200 sq ft 3-bedroom ADU with standard grade fixture way away from your main home and rent it to a family and it would probably work out nicely.