You are being very broad- each market is it's own market- and you can't categorize this broadly.

Looking to buy my first (of many) rentals in Cincinnati and looking forward to connecting with professionals in the Cincinnati market. 

Remodeling and addressing the current market demand.

Just like with multifamily buildings, the more modern and move-in-ready a property is, the less potential there is for adding value, which can limit your return on investment.I suggest looking for off-market properties.

Be sure that you have a differentiator that makes you unique against other homes in the market.

market of 1980-1981.  

Rafael,After the hard money loan I would suggest closing them under your LLC using a DSCR loan or portfolio program. 

When I acquired the property, both tenants were paying below-market rents.

A month-to-month rental is typically priced higher, which means you may be worth $4,000 - $6,000 per month.I highly recommend you research your market and understand the value of what you are renting.

Whatever is cheapest and most durable for your market!