Most PMs, especially the well established ones, will not always flex for specific clients like this but it could be an option.hope this helps.

Eliminate debt, establish a budget, and save.

You also need to consider any STR regulations.

Start by researching local regulations and working with an agent experienced in vacation rentals.

The reason I ask is that knowing the fast movers of the area may help you choose your project.Lastly, what kind of renovation budget have you established, and is it an upfront budget, or will you be contributing to it over the time that you live in the property and renovate it? 

Eliminate debt, establish a budget, and save.

Ensure that you thoroughly review your state regulations and display the necessary notices before changing any locks or removing any items left behind.

Always research local regulations before investing.The Importance of a Local Investment TeamA knowledgeable local team is essential for success.

If you are able to manage it yourself, I think you will get a lot of very helpful education in real estate by spending a least a year or two doing that.You'll be able to work with property managers a lot better if you've done the work yourself for a bit, and it also helps to get familiar with the various laws and regulations you have to comply with as the owner, even if you do have a property manager in place (e.g., the new RI rental registry and associated lead paint inspections/certificates).It's up to you whether you're able to do it, but I think you'll get a lot out of the experience if you can try it for a year or two.

More important than identifying target areas is establishing relationship with a local investor-friendly professional who has personal experience in investing in Cleveland.