Here in Cleveland just like the rest of the country we have many neighborhoods with homes priced well about $300,000.I created The Ultimate Guide to Grading Cleveland Neighborhoods to give out of state investors like yourself an idea of what's what in our market.

Over the next few years I poured all profits back into upgrading the properties until they were B+ grade. 

BUT, there are deals to be had, as @Bruce Petersen is a testament, you might just be looking at lower grade properties to stay "affordable." 

Commercial grade washers cost used about $1400+.. dryers are less.. we're looking at $2500 to buy the equipment and then 1 repair a year will cost another $300?

Older homes used to be pier and beam but now everything is slab on grade because it is cheaper.

It needs about $10-20k in upgrades/repairs (depending on the grade of materials and appliances I use).I found a possible lender who will loan on the value of the property and not my credit, so I am going to see how that goes.

Present investment grade deals to those with whom you have built a relationship.You have to understand that are thousands of new investors who advertise "deals" that are clearly not deals as evidenced by the lack of interest by seasoned investors.

Used higher-grade sheetrock for sound isolation, It's a bit more expensive but worth it.

Either from gutters or from grading thats pitched towards the house.

GC here, for your regular builder grade home and finishings, with no big upgrades or any special builds, you're looking at probably around $100/sq ft.