Also realize that the taxes on the unit that you are basing your purchase on - are the current owner's taxes.  

I guess this leads to the question where could I find an affordable LTR based on my budget.Would really love to get some advise what an experienced investor would do.

My advice is to speak to a few local HMLs and ask them for their rehab estimate spreadsheet, which most should be happy to provide.FWIW, based on my assumptions above, you can’t pay more than around $480k for this property.

While you're talking with bank find out if your next purchase would be based on your DTI ratio or if it would be based on the debt service coverage ratio of the prospective property.  

DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

They usually pull your credit but lend based on the income potential of the property. 

Not to mention, inability to refinance out all of your  initial capital is not merely LTV based.

I find their competitive set tool which finds comparable buildings based on actual data, quite helpful too in terms of vetting deals and providing proof of concept. 

Hello,I'm based in California and looking to dive into the real estate market in the Cleveland and Akron areas.

Free attorneys from tenant-support groups are very effective in finding ways to block and delay.PS: for anyone interested in supporting our landlord legislative efforts please join the Rental Property Association of Wisconsin RPAWI.org which is a Milwaukee-based non-profit.Cashflow in Milwaukee is still possible at current interest rates, but you have to be careful to not "buy cashflow" with a huge capex liability that comes with old buildings!