Being that the property has to be FHA approved and already liveable, the market climate here in Cincinnati, OH isn't very fruitful.

Another thing that came to mind was climate change - who’s to say things won’t get a lot worse in the future.

It's extremely dependent on the location, distance to popular places, and climate.

I feel this will be a win us, win for the guests and a win for the neighborhood 👍🏽I have contingency plans in place should the climate for legally doing less then 30 day Airbnb rentals change in my city.

Like you, I'm from a warm weather climate.  

As a general rule a property needs a complete redo every 30-40 years, depending on how well it's been taken care of, the climate and the quality of materials: cheaper built homes will wear faster.To illustarte: a midwest home built in the 1960's and sold for $100k may have a replacement value of $200k - check your insurance paperwork for a quick reference.

(not counting the renovation) I think it's tough to find a deal like this in Chicago on the North Side, where you can sleep peacefully at night and not worry about someone breaking in, or a drunk and disorderly, including being located in a  highly rated school district...I understand appreciation, and gambling on neighborhood gentrification isn't a primary concern of mine, this is a risk-free, safe return play.

One of the most important quotes of the year regarding investors and the coming climate change was also found in U.S.

@Rob Bianco, I assume this unit is in a really warm climate for A/C to be such a big issue in April.I think you are doing exactly the right thing.

And add the political climate, with rent control state wide now in Oregon and possibly next in California.