It's not difficult to find tenants if the property is marketed correctly.

While it is possible and can be profitable to invest in small properties out of state, I don't think it's worth your time and effort.

Are the tenants paying market rents?

I have been narrowing down some markets and trying to explore/research more and network.

Market Demand: Buyers love move-in-ready homes, and flips are often the most attractive properties on the market.

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

It has been on the rental market for about 55 days and the average in the area is supposedly 36.

You need to know how to analyze property and then systematically evaluate property on a daily or weekly basis to stay on top of the market. 

Plus, you already know the market, which gives you an edge.

However, the property’s cost basis (what they originally paid) carries over to you, meaning if you later sell, you may owe significant capital gains tax on appreciation.Alternatively, selling the property at fair market value eliminates gift tax concerns, but your in-laws may owe capital gains tax on any profit.