Meaning the low hanging fruit for a new investor might be a little higher up on the tree and fewer and farther between.

The higher the cap rate, the more risk involved in the building. 

He didn’t just answer my questions—he showed me how this game is played at a much higher level.

The northwest suburbs of Akron are the higher  income areas.  

The market has gotten much higher than in recent years. 

@Benjamin Ying The only way to cash flow in the current market is to employ a higher effort strategy like STR, MTR, rent by the room, etc.The "cash flow on paper" properties in stagnant markets or C-D class neighborhoods are probably not the type of places that you want to own long term.

They could also fix it on their own (as some of Scott's buyers do) , increase the value and sell it at higher price than bought, pocketing the difference. 

This strategy can generate higher returns than traditional rentals, but it does come with increased management requirements and potentially more volatility.

@Loren Souers I'd have to run the specific scenarios with the rates and fees, but if you're OK with paying the higher closing costs, the Mortgage 1 deal looks good, particularly if you focus on CoC returns.

That said you can greatly alleviate that with good screening, and the higher price point that these types of units can demand should help filter out the deadbeats.