Not everyone wants to "wait" and "save" 5-10 years and buy an investment property.

Thanks Hi Seidy, like others have mentioned, this is not an advisable strategy in 99.9% of circumstances.

Whoever told you that you could avoid the tax on $500,000 in gain must have been referring to the exemption for your primary residence Rehab mentions.

You’ll receive notifications when there is conversation in the forums you follow or if a user mentions those keywords—so keep them updated often!

@Danny Sanchez you are allowed to pay off the remaining DPA balance to move, so a DPA loan to start may be the best way to lock in today's price, and then continue to live frugally until you save enough to pay off the DPA portion, or wait until you can refi and pay it off.

Kinder is about the kids learning to stand in line, wait there turn and not eat glue. 

You only mention purchase price, rehab and rent numbers.  

@Ather TaquiI am no attorney, but a consultation with one in your local market would be a great idea.However, Ill mention this.Keep everything separate.

What is the criteria I should mention I'm looking for ?

Quote from @Michael Smythe: @Keren Mayorov be sure to speak with @Engelo Rumora and @James Wise Thanks for the mention mate.G'Day Keren,Toledo, Ohio rentals are our bread and butter.Others on the forum are better suited to assist you with the Cleveland market.Wishing you much success 🙏