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 

After spending all day dodging junk mail, junk e-mail, junk texts, and junk phone calls I have very little energy left for junk BP posts!

People are going to start thinking about spending their tax refunds in the middle of January.

I think broader consumer taste is killing malls, which includes online shopping, but also even where people are choosing to live and how they are spending their time/money, more broadly.I worked for a company that bought a failing mall back in 2012 (online shopping was "killing retail" then too), redeveloped most of it into more open air power center and sold.  

If not they could spend money and time and offend buyers if they update the property incorrectly.There are other options, such as landlording.

It's impossible to answer your question without knowing how much you have to spend to acquire the house.

We are going to spend about 20K to bring it up to par but defiantly worth it.

Martin the property management argument isn't really an argument if you look at the bigger picture that most investors don't want to manage their properties anyways because they are spending most of the time on their main job.

Had to spend additional money to get everything fixed.  

Your total spend might be like $1,500/year on everything from brokerage to MLS to boards.