Akron can be a great market for cash-flow if you get in at the right price, and have a solid PM.

If the market softens at the 5-year mark, we can opt to hold the asset for a longer period of time, allowing the market to rebound.Projected Cash-on-Cash Returns: 6% Per YearNext, consider cash-on-cash returns, otherwise known as cash flow or passive income.

@James BingNetworking at the local RIEAs and Facebook groups.There are a few power players in the area, deals flow has been low these days, and lots of non deals being floated about.Generally here is how the priority list goes and its based on ROI:1.

It is very high chance that I will be negative cash flow due to increase property insurance and HOA. 

These regions are where I typically suggest looking if investors main goals are maximizing Cash flow/Cap rate/ COC return

Assuming both properties are/would be LTRs, these would be netted together on Schedule E, which would flow through to Schedule 1 and/or Form 8582.You'd also want to be aware of the potential for depreciation recapture when going to sell the property if you're not using a tax-deferred exchange.

I'm very torn between investing somewhere for the most cash flow vs investing somewhere I would enjoy visiting. 

The property is presently cash flowing at about 5%, but could do much better with better financing. 

Should I refi and get extra cash immediately or should I refinance and lower my payment to build better cash flow?

Im currently negatively cash flowing.