I think Lakewood is the best market in Cleveland, but I am hearing people tell me to expect rents that seem impossible there.

They are susceptible to the same market forces as any other real estate. 

Will rent for 1750/month.Capex items needed soon: roof, water heater, furnaceArea: A area, appreciation is at about 5% a year but average home price is ~$500K so this home will appreciate faster, this will have multiple offers on itDeal #2 - mixed use, small office with a 3 bedroom and a 1 bedroom over it.Ask: 325KCurrently fully rented on one year leases, bringing in 4775/month but only one tenant pays their own utilities plus owner is responsible for snow removal and landscaping. 

If you watch the market every day for a couple weeks, you'll quickly learn what is renting and what is sitting on the market.

Hey Stepan, Some changes I'm advising and seeing my clients implement are expecting an extra 3 months of holding time and undervaluing the ARV just a bit due to high inventory on the market. 

I suspect maybe something like Hagerstown or Cumberland, which yeah are Class D like markets with declining populations, high drug problems, no strong job base which leads to non paying tenants.

Like you mentioned, the money in the market is effortless.

The systemic trouble is in a few high growth markets in the US.  

They pay you rent, and they operate a parking business.

People in 1981/1982 were angry they were paying 18% interest.