If you buy a high cash flow property in Cleveland, over 5-10 years you will most likely break even on the cash flow or just be treading water.

Quote from @Natalie Allie: If you are still considering the Land Bank in Detroit listings, just be careful to check with the city on whether or not the water needs to be reconnected.

Fridge filter is like a lightbulb it is a consumable that they can get or not get, makes the water better or I suppose the fridge smell less but it is not essential.   

I assume it has sewer/septic, water and electric and they 2 tiny homes are plumbed/wired?

If you have a 6 bedroom in an area that does not have a university (students looking for shared space) or is in a family friendly place it may sit vacant longer between tenants.For Capex, try not to use a generic number - look at the roof, furnace, hot water tank, kitchen - when will each need to be done and what will it cost?

With the lower price point rentals, you basically just tread water.

Still, if you’ve got someone on the ground who truly knows how to navigate these waters, it’s like being handed a map with all the back roads highlighted.

Its extremely important when running tighter margins like what you're talking about to focus on age of HVAC, water heater, appliances, roof, etc.

In addition, I will also be paying much closer attention to water flow patterns and signs of erosion around our next investment!  

Given this is where my major operating expenses fell (beyond taxes and insurance), keeping this cost lower, by average, helps my cash flow.I invest in older neighborhoods, so the 2-4 unit properties, typically have single water meter, maybe single electric, and many have radiator heat with a single boiler.