(Go ahead and spend the few extra dollars for the quieter fan; then the tenant won’t notice it as much.)

Build up for your next investment.I'm not actually spending any of the investment money on myself for a car or vacation.

I've always believed in the saying that "there is nothing wrong with any deal, as long as the price is right" lol.This might sound cliche but all of Cleveland can cashflow if you buy cheap enough and if you buy with cash.And cashflow it can very well.Just like all of Ohio.You make money when you buy and not when you sell.So make sure to buy dirt cheap.Buying cheap also "acts" as a margin of safety for any mishaps that happen during rehab or issues like the OP had with the first property manager.I see many folks nowadays buying off the MLS and overpaying, spending too much on rehab and then getting dimed to death by property management.While I'm sitting on the sidelines as a turnkey provider watching it all un-fold and thinking how they just could have bought my "overpriced" turnkey property and would have been into the deal for at least 30% cheaper...It's a shame but it's what the people want, so many give the people what they want.Thanks 

Lastly, while birth rates are declining the # of pet households is increasing.   

You can spend $150-200k and easily hit 1%.

As long as it cleans my bum I don't really spend a lot of time thinking about it, and I suspect most of your guests won't either.  

You'll spend more chasing them than you'll collect.

Finding a decent contractor might be one you want to spend more time on in the start since it could take longer to find.

LOVED it, I'm heading to Indy next month and will spend an entire month there getting to know the areas and building a team.

Spend more than half of your total working hours in an RE business in which you materially participate.2.