We have a reasonably high income from our W-2’s and rents with annual income in the $250k+/year depending on bonuses & OT worked and is usually closer to $300k.

I would get a high quality sleeper sofa.

On the other hand, sometimes fame and celebrity can get somebody singled out to be harassed when they would not possibly have been at had they not been a high profile individual..

Budget carefully, prioritize high-ROI renovations, and adhere to strict timelines to maximize profitability.

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

High rental demand (Section 8 too).

High rental demand (Section 8 too).

Especially in Dayton, where you'll get that high cash-flow. 

But presuming you are talking about doing the above, this is a high risk strategy.

Purchase price: $55,000 Cash invested: $440,000 Currently under construction and pre-leased for $6,195/month, this 7-bedroom, 5-bathroom student rental in Clemson, SC, was built using investor cash and designed for high-end student living.