Josh C. - Definitely not in a spot to have full time people yet and even if I did I would need someone I trusted to manage them which only adds a further cost to things.

@Joy McQuearyRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Possibly, but that Fannie/Freddie deal might only return 8% C-o-C with a 17% IRR whereas the smaller deals would probably be closer to 15% C-o-C with a 23-25% IRR.

Use the actual NOI, not the pro-forma b/c that is how the property is ACTUALLY performing.

@Scott ZeigerI am currently looking for appliances and I am investing in a C- neighborhood in Cleveland.....I would love to know where your connection is in Northeast Ohio!!

Quote from @Nick C.: If they’re month to month you don’t need to evict, just don’t renew their lease. 

Calling the appraiser to see what you can do to push it up a "C-Level" would be smart before doing any reno also, might only need a few things to make it far more valuable in the eyes of the bank.I've heard of a tactic for figuring out demand, which is to put up a dummy or coming soon listing on facebook marketplace and see the amount of activity you get on it. 

Looks like a normal C- Ohio crapbox.

For cash flow, I'd point you in a C grade area. 

Hi all,Looking to buy a R-C zoned property in Charlottesville, VA and add an ADU in the form of a converted 12x20 ft Shed for STR.