I personally love the Cleveland market for its cash flow.

Personally, I've been in this niche since 2007.

What made you think this person had no experience whatsoever and didn't own their own home? 

I personally use Bnbcalc: https://bnbcalc.com/?

Quote from @Mathew Chacko: Quote from @Na Person:  I too was a little skeptical of sending a large cash payment to an unlicensed entity (1031 facilitators do not need a license). 

Personally, I like to target 30% equity retention in each deal.- Section 8 income isn't guaranteed.

I never make a loan, no matter the equity position, that the past actions of the borrowers lead me to wonder if they will be likely to pay me back. 

Chris, good to hear you are so eager to take action!

Since the LTV on the hard money loan is high , I would personally purchase it using a bank statement loan at 85% LTV (15 percent down) and, as you mentioned, just use your cash for the rehab.

@Dustin Horner you should be contracting maintenance work and creating a preferred list of vendors as @Phillip Austin has recommended.The first person you hire to help you should be to handle what you LEAST like to do yourself or has the greatest time savings for you!