@Charlie Moore, the challenge I have with this question is: how are you planning on calculating CoC returns.  

Speaking of networking, I'm currently looking for an attorney & CPA to help with a proper corporate structure for my current situation and plans.

For more info, here is a link to the Hilltop Land Use Plan provided by the City of Columbus. 

---So, learn the neighborhoods where you plan to invest and use Google Streetview to virtually explore them.3) Poor Tenant Screening - they typically can't sell a property until they place a tenant.

We planned to have it paid off in a year and a half.

The town requires plans, proposed text, detailed narrative, and design guidelines before they'll accept the proposal. 

I personally would put the property into an LLC as part of an overall plan to protect my liability.

I think 'high IRR' is subjective but also linked to the business plan.

Dave is a pretty smart guy and at his age levering quality RE for the long haul a good plan.

I'd plan to own it about 18 to 24 months.