However:Strategic Tax Planning: Work with a CPA who specializes in real estate to maximize deductions like depreciation, interest, and operating costs.Higher Rents for Premium Properties: Some investors offset the tax by focusing on properties in high-demand areas (downtown Greenville or near universities, for example) where they can charge a premium rent.Short-Term Rentals (STRs): Consider STRs like Airbnb, where higher nightly rates can make the numbers work better than long-term rentals.

Before you spend your money here, check out The Ultimate Guide to Grading Cleveland Neighborhoods for a lay of the land.

Quote from @Vhernadette Sasing: Hi everyone,I am high income earner making more than 500k per year with my W2 job, 40hour week.  

@Megan Mason recommend you watch some of the videos from @James Wise youtube channel on S8 evictions.We've been dealing with S8 tenants for over 20 years and they are NOT a cure-all for rent collection challenges.Since rents in Class A & B areas exceed S8 limits, most of your S8 rentals are going to be in Class C/D areas. 

One of my friends uses comped quarterly cleaning as their inspection day and trains the cleaners to take photos and videos of everything.

That highly depends on your pay structure.

Good afternoon Jason, Caleb had a very good point, I highly recommend owner financing to get you started on top of some sort of side gig.

I am not yet familiar with specific areas though.Because of the high cap rates, your question does make sense.

If this property is near the beach or near downtown area, the appreciation potential could be extremely high and it can be easily over millions.

If you buy a high cash flow property in Cleveland, over 5-10 years you will most likely break even on the cash flow or just be treading water.