During the summer months there are a few events, functions and festival type activities going on so you get a few bookings around that.

With a backup plan, and proper (extensive) legal docs, much of the risk can be mitigated.

The function of this guide is to get the reader up to speed quickly on the neighborhoods so you can invest in neighborhoods that meet YOUR investing criteria.

Most do not follow it which is you can have someone assist in capital raise but it cannot be their only function - it must be less than 50%.

But they don’t know proper thinning and trimming.  

My suggestion is to build a spreadsheet and include the net cash flow to you for every month of the deal, then use the IRR function to figure out your return. 

For overnight rentals, functionally it is a bedroom.

As @Patrick Drury mentioned- the West Side does not have any POS areas (besides Lakewood, but it's only needed for previously non-owner occupied/rental properties) Something else to consider in Cleveland proper is Lead Safe Testing ..

As for liablity for a mom and pop landlord I agree do the best you can and have proper insurance..

So you can really get an idea for the market and if a property you are looking at is properly priced!