Cleveland wouldn't be my market of choice given how old most of the houses are, but I know a lot of investors who have success there, so it's definitely viable.

But I have 0 empathy to pay for someone's CHOICE of not having there stuff insured. 

The water heater and furnaces are all in the basement so it looks like I don't have much choice.

All the partners must agree to make the choice, and the partners must be able to figure their own taxable income without figuring the partnership's income.  

@Joshua Lanzieri when renovating older properties there are almost always negative surprises.Go watch any HGTV renovation show and most of them will have this as a cliff-hanger, forcing the choice of either going over budget or cutting back elsewhere.10% overruns happen often, but 50% is NOT acceptable!

It's personal choice. 

2) You MUST screen these people before renting to them, but you can use FurnishedFinders screening tool3) Otherwise, you can put your choice of screening link in your ad or include in a response template in FF.

Otherwise you’re saying you expect other people to subsidize bad choices over and over again.

I believe we are making the right choice by doing legal/fully permitted ADU's.

Some popular areas to look into are those with strong rental demand, relatively low property costs, and the potential for future appreciation.