Anyways, I'm seeing a lot of general speculation on here but people don't invest in these markets because they believe they're the greatest places to live in the world, they're interested in the cash flow and possible appreciation.None of my clients were talking about appreciation in the Cleveland market in 2019 and now their properties are worth 30-40% more, and that's on top of record high rent prices in this market. 

Are there any house at that price point that would rent for $1200-1500/ month with 20k worth of updating?"

I just looked at a place that would be worth double if it was a street over even though it's in the same zip code for example.Welcome!

What makes a property manager actually worth it— having more freedom, peace of mind, saving money, reducing risks, or something else entirely?  

Also, the whole point of hiring a PM is to handle tenant, maintenance, and rent collection, so if your partner isn’t actively managing but just supervising the PM, IMO not worth having a two people essentially looking over the same tasks.Contributing financially for one person and the other having no financial stake raises decision making questions, such as when to sell, how profits will be distributed, etc.

I won't pay more than what it's worth to me, regardless of what someone else paid for it.

Here’s a thought:Step back and evaluate which properties, if any, are truly worth keeping based on current performance and future potential.

I think the SMS automatons alone for GHL are worth the price of admission.

@Roman Balmakov If you are planning on holding the property long term and have enough reserves to cover even worst case scenarios it could still be worth it. 

Here is the scenerio:3-unit investment property worth $2m.