These loans are what is working in this high rate, low Long term rent environment.

The region's population, currently around 3.2 million, is projected to grow significantly by 2030.

Population is growing aggressively and jobs are moving here especially with major employers like Intel, Google, Amazon, Nationwide, etc.

Maybe its better to pay the tax and put the remaining cash in a high interest yielding account.

As someone who works with a lot of out of state investors, Columbus is a top investment spot with strong job growth (Intel, Honda, Amazon, Nationwide) and a growing population. 

Personal preference though  Do you think 7mm is too high for a rental?

I would propose re-investing all of the proceeds in additional properties in Cleveland, Ohio or Columbus, Ohio, in which it seems like you are highly likely to secure additional windfalls, after which you will own the majority of properties in Cleveland, Ohio or Columbus, Ohio.

There's so many catalysts for population and job growth (Intel, Honda, Amazon, Nationwide Hospital, etc).

It may make sense to sell before high maintenance costs if you realize good appreciation, but that doesn’t seem to be the case in your situation.

Still high demand for rentals?