I don’t want to spend a month in a dump.  

Frankly, if you don't keep track of what you spend for business, real tax strategies is not your problem at the moment.

Quote from @Terrance Brewer: Quote from @Tim Delaney: I am an audio learner, so I spend a lot of time listening to various podcasts that BP puts out.

Frankly, if you don't keep track of what you spend for business, real tax strategies is not your problem at the moment.

You could also look into regional banks or credit unions with experience in real estate development for middle-ground options.If I were you, I’d spend some time shopping around for the best rate/terms.

I am glad that I am not the only one who takes twice as long and spends twice as much, haha.

If I wanted to spend an hour doing it, I could probably put together a list of at least 50 cities where you can still buy housing for $100/sf or less.

However again if your bound and determined to buy the physical assset then you need to buy quality not C class.. you will NOT get consistent cash flow like you are thinking your will. you will have tenants stop paying you will then get NO rent for 2 to 6 months as you evict and then spend thousands rehabbing the house they just trashed..

- We've got an owner we're about ready to terminate because we email them information that they refuses to read and always wants us to call them and spend hours talking about it.

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