Needs all new cabintry, windows, doors, roof (has some life left), fixtures, fencing, some electrical and plumbing changes, and some framing/drywall due to termite damaged sill plate in areas.

Risks include market fluctuations, property damage, tenant issues, and unexpected expenses.

@Zach Howard some copy & paste advice below:)-------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Also look for a reputable PM that specialized in sec8 program in cleveland the market as well, not every PM work with this program.

Renting out mobile homes can be a great source of cash flow but they’re notorious for being damaged significantly by tenants and tend to need a good bit of repairs before renting out to the next tenant.

I am leaning towards Quality Arcades because it's smaller and has more games, but Dream Arcades seems more reputable.

----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Got a statement every month from a very reputable, conservative firm.

With no structures, there's little to damage and it's not like a defaulting tenant can steal it. 

Don't spend a lot on improvements as they tend to get damaged with every tenant.