Our data indicates that 80% of guests don't look beyond the first five photos on an Airbnb listing.

Replacing cast-iron piping can be costly and labor-intensive, and while the mixed plumbing indicates previous updates, you might want to get an estimate from a plumber to understand the full scope and cost of replacing all cast-iron pipes with PVC.

Your first comment regarding attending city commission meetings seems to indicate that you are referring to affordable housing under state statues (i.e income and other federal/state restrictions).  

Inspector that came to verify the work indicated that the double ground was not necessary because it was double grounded at the electrical drop.  

For example, if there's more smaller units on the OTAs then it can be a good indicator to purchase larger units for MTR since there's less inventory of larger units. 

A high DSCR indicates that a property generates more than enough income to cover debt payments, making it less risky for lenders.

i just look for risk in posts - since I don't know the people in person i have to go by what they post, and so here i saw the same thing @Travis Timmons did - 'stacking' risk factors:-from California-probably chose Cleveland solely because of the price point and not because of any market knowledge-asked about borrowing 100% and asked about forming an LLC-did not indicate anything about strategyto be very clear - these are fine questions that OP is asking, and out of state investing is a fine strategy. 

@William Coet - Agreed, at face value it is not a red flag, however being unable to raise all of the capital prior to closing is indicative of it not being a killer deal.

This discrepancy might indicate a complex market with varying property types and conditions.- Market Volatility: While home prices have increased significantly, the average home value has seen a slight decline of 0.4% over the past year.

However, knowing the rents were below market did give me a clear indication that there is "upside" in the deal, so overtime I thought the cashflow number would be beneficial.