The average age of the number 1 single family home owner is greater than 2010 and less than 15 years old and they are now building homes new construction and owning them. the exact opposite of your strategy. older homes are the cheaper ones and unless you have experience I'd build in columbus close to downtown. same reason Toledo and Cleveland don't move the needle and there aren't 100 institutions in those markets. columbus is barely on the radar. 

Sell the house as is or use the lot to build new construction and sell for 2.5+.

The deals are messy, agents need a lot more knowledge (like construction cost) - but the commissions are small.

Typically, older assets have higher cap rates, while better locations and new constructions tend to have lower cap rates. 

We have worked with lenders that offer great DSCR rated to foreign investors on New construction investment property.  

Any review would be their cost of doing business.Realistically, if you have the experience, contractor resources, and skills to do the rehab, then borrowing money is your best bet.

Even new construction l would want an idea of the quality of the build.

I used a 1st lien HELOC to pay off a duplex, now that I have like $5k left, I applied for a construction loan but I was denied cause my DTI is too high.

If you are looking for cash flow typically multiple unit properties are going to be your best bet but might require a little more work up front and there are not a lot of them around the area to scoop up right now.

There is a ton of new construction going around in the Candelas area and a huge boom is expected in rentals, including the monthly rent.