@Kerry Hermann - the posts by @Michael Ewers and @Samuel Coronado were solid advice (I don't know Nita Cook whom Sam referenced, so that's the only part of his post I can not comment on).I second what Michael said about the market here - it was fantastic from 2017 (when I started) through 2022 - then it really started to crater in 2023 (although we still found some deals), and the bottom completely dropped out in 2024 (found one small commercial deal and one residential flip deal in 2024 - that's it). 

Most lenders are going to be limited to 70% of ARV ($560,000 total loan amount) but that means they could fund 85% or a bit higher of purchase price + rehab ($560,000/$645,000 = 86.8%), which is solid.

There are some solid Tax Pros and Cost Seg firms in this forum that maybe able to help. if you reach out. ...

Starting with buy-and-hold single-family and multifamily properties is a great strategy, especially in a market like Cincinnati, which has solid rental demand and growth potential.

If the work needs updates, that’s where it can add up, but $30K sounds like a reasonable cushion based on what you’re describing.It sounds like a solid deal, especially if the cash flow is good.

Good occupancy and solid CAP rate.

A solid mid size local company tend to have tools and scale without the downsides.Good luck!

Quote from @Christopher Lynch: This is a solid start for the capital partners willing to do the 100% fin and then 50% on the profits.

Condo HOAs are killer but this looks like a solid deal.

I rarely see anyone address the underlying root cause of the issue.