So yet, there are a lot of fresh units just hitting the market this year and new ones that will hit soon adding to the competition. 

I recently added a half bathroom to existing footage in a unit that is valued over $1k/ft that the comps showed the half bathroom added ~$50k of value.- not sure of your home market but i assume you are choosing ohio for its lower cost.  

You don't have to spend money  out of the pocket on searching Redfin, making some phone calls, making offers and posting ads on Craiglist or whatever local media you want to use to sell the property.

My understanding is profit from lending is considered "taxable income" and is therefore added to your income and subject to your normal tax rate after all deductions, etc.

Anything Lee touches turns to GOLD! 

Hers is the ad for anyone following.....http://newyork.craigslist.org/brk/reb/5552592547.h...

It isn't easy, but you'll learn a lot about underwriting from the process and know the ins and outs of the entire model, which makes using it, troubleshooting it, and adding to it much easier.

@Michael ReilmanI installed the Aquasource Henshaw from Lowes in all 20 units I recently rehabbed and they've been great so far, and as an added bonus they're ADA height which is awesome for bad knees!

I can do this full time, adding 200k every year for down payments, so I can qualify as a real estate professional to be able to do a cost segregation and accelerated deduction.

Once the property is in service your rehab costs will be added to your cost basis.