Purchase price: $295,000 Cash invested: $50,000 Single fam home, desirable neighborhood.

It doesn't take long to learn how to spot a good deal.6.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Challenge: It's in a neighborhood (no HOA), and renting the entire property (sleeps 25 in total) caused problems in the neighborhood, due to noise and parties – so we only rent the separate cabins now.

For more info on Cleveland you'll want to read The Ultimate Guide to Grading Cleveland Neighborhoods.

Links are kind of not allowed even though there is a spot for them in the post so some get removed.

I'd try to fill at least a few spots to get some income coming in, and then do a rolling conversion to MTR as you have the cash to outfit a unit with everything an MTR needs.

As it stands now, the sweet spot in that area in the market for rent seems to be a little larger 2/2 house with large living area for guests.

Is she correct or am I spot on?  

For example, population growth in certain neighborhoods and increased investor activity have created opportunities for both long-term rentals and value-add deals.If you’re torn between wholesaling and holding long-term rentals, I’d suggest thinking about your long-term goals.