My current plan is to stabilize this rental and aim to buy one property a year. what do you guys think of this deal and strategy?

Given the location and how the town has been developing it seems like a good investment opportunity for rentals.

The people who struggle here usually underestimate those factors.One thing I do differently than most: I share actual performance data from my rentals—purchase prices, rehab details, rent numbers, lessons learned, and backstories.

I think you'll be very happy in the Cleveland / Lorain market as well and I always tons of demand for rentals whenever I list a property in Euclid so that's a great area to target as well! 

Begin by educating yourself through books like The House Hacking Strategy and podcasts like BiggerPockets, and join online communities for support.

Do you plan to flip it or hold as a rental? 

Quote from @Erica Dike: If your vacation rental is designed for everyone, it speaks to no one.

Don't be afraid to negotiate, particularly if you have a lot of rentals.4.

Your primary has an incredibly low interest rate, and your rental (I hope) is getting positive CF, which means your tenant is paying it off for you. 

We got to know each other, I observed him working and managing his company and crews, while inspected all the resale and rental projects.