@Anthony Dupre Why are you so concerned with anonymity?

They spent 1K on them from upwork and it helped resolve concerns in the meeting real time with some neighbors had who were just picturing the project their own way which was completely different than what the emerging developer was proposing. 

I'm looking into purchasing a rental property in the Belmont area of Dayton, OH and wanted to get any insight for this market as it seems concerning that the average rent is higher compared to the actual costs of houses in the area.

Depends on really what you are looking for:-Speed - some HMLS can go "no appraisal" so can close very quickly and beat cash offers if you are in a competitive market to buy-Interest Rates - can range anywhere from around 8% to 13% (same with "points") but not usually as huge of a concern for flippers since the terms are so short-Leverage - depending on your risk appetite / capital - this is also a top concern for some (almost always over and above rates/fees) can see anywhere from around 80% LTC to even mid 90s LTC (including 100% of rehab budget)

Can't you come together and figure out a solution where he returns and addresses your concerns and collects the $2K?

- Legal and Regulatory Concerns: Are there any local laws or regulations in Fredericksburg, Virginia, that I should be aware of regarding pets in rental properties?

I know that my COC my be lower, etc but my main concern since its my first property is being cash flow positive.  

By this I mean the liability event that has you so concerned. 

Depending on where it is, your biggest concern should be will the new furnace, AC and hot water tank will still be there after you close.

I see the concern though...