For many years we did have turnover every year, so that was a good number. 

Want to buy an old commercial building or gas station that had leaking PERC or leaking gas tanks? 

Quote from @Owen Wang: I am 17 years old and will graduate high school next year.

Look at a few of my post to others and if you want some direction or advice from an Old Fart, I'm your guy.  

Ground-up construction is 10x easier than remodeling an old house.

So as long as someone gets realistic with the TRUE cost to  own and maintain and the numbers work it can work but I am a big proponent if your going to have these types of assets they need to be paid for to really enjoy any financial benefit.lastly I can say the same thing about new builds.. over the long haul unless there is REAL appreciation more than just 2 or 3% if you sell within say 10 years your going to be lucky to break even as your going to have to spend 20 to 30k making the houses fresh again to get top dollar a 10 year old rental is not going to bring top dollar and the value at that point will only be what an investors will pay for a given cash flow..

This is very old but curious if you were successful with this? 

  $1,500 is a ton of money for a 17 year old.

Capitalized costs increase the basis and depreciation deductions over 27.5 years.

@Somesh MukherjeeIf you are looking at investing in the cleveland market I would recommend being in areas on the West Side of Cleveland like West Blvd, Cudell, Old Brooklyn, Clark Fulton, Edgewater, Jefferson, and Brooklyn Centre.