And that number depends on you, your market, your property and your goals.

Cleveland is a great market if you know how to navigate it and have a good property manager.

Found it through a broker on the market.

I would do what you are doing here on a bigger scale - social media, local markets she operates in Facebook groups, etc. 

Meanwhile, bank money market paying 7.5%. 

I'd be happy to visit about the market.  

Here are the numbers:IncomeTotalPartner ContributionsManaging Partners Debt$0.00Partners Deposits$987,459.99Total Contributions$987,459.99Operating IncomeAirbnb Income$50,186.50Square Income (Vehicles or add-ons)$6,741.04Total Operating Income$56,927.54Total Income$1,044,387.53ExpensesPurchase of propertyCost of House-680,000.00Closing Costs-$26,744.44Total Cost of Purchase-706,744.44Set Up ExpensesHouse Improvements & Care taker home addition-116017.03Adding Tiny House-52130.83Furnishings-68403.65Vehicles-43150Set Up Costs and Advertising-2339.53Total Cost of Set Up-282,041.04Operating expensesCare Takers-14535.9Additional Cleaners-1505Cleaning Supplies-2670House Supplies-1340Landscaping-4230.66Utilities (Power & Water)-8204Internet-315Pest control/fumigacion -120Pool cleaning/maintenance-2220Vehicle Gas-552.3Vehicle Maintenance and Repairs-6625.01Welcome Food for Guests-115Property Repairs-4999.64Bank Fees-1208.06Accounting Fees-1085Insurance-955.74Other Expenses-1071.2Total Operating Costs -$51,752.51Total Expenses-$1,040,537.99Net Income$3,849.54Net Operating Income$5,175.03Now 5k for an investment of 970k is not a good investment.  

Engage an investor-focused realtor/broker in your preferred market (this is not a residential realtor) and start 'tire kicking' the market and properties that fit your criteria.

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

Just as bad as the posts you see from time to time of the grandchild wanting to work out creative financing to buy their grandparents house below fair market value.