Also, from what I read in Bloomberg, midterm rentals near major hospitals can sometime command a decent premium.. especially if they include some nice furnishings.Little Tweaks Count: Even minor upgrades, like new door locks or a fresh coat of paint, can help you justify a stronger rent.Driving for Dollars & Networking..

That is the decent (and courteous) thing to do, so that others won't spend time to write an answer, and so that others who search out an existing topic can see that answer. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

With that being said, the interest rate is going to be the single biggest determining factor for whether you're barely breaking even, or seeing a decent monthly cash flow.

Personally, I love Chicago because I know the market decently well and more importantly have a VERY SOLID TEAM, of people I know, like, and trust!  

You can pick up a duplex in decent condition in a C-class neighborhood and hit the 1% rule

I have a decent size RE portfolio, and use professional property management.

@Nick WimmelYou can get decent cash flow and demand for rentals is likely to stay strong in the area given the proximity to major job centers in Cincinnati and Dayton

Any kind of cashout refi or heloc will require income (ability to repay) and decent credit.

As a US citizen I have an SSN, file taxes every year on my foreign employment income, hold US-domiciled assets (stocks, IRA, 401k), and I have a ~15 year credit history with a decently high score.