I'm very familiar with the investing scene here in Cleveland and am decently well connected with people here, so I'm sure I can help in some way shape or form.

Roof in good shape, 80% of floors in great shape. 

#1 needs a bit of a clean up, but overall in good shape and #2 is completely turn key.  

it's just easier than the more advanced strategies...House hacking still takes significant due diligence, skill in analyzing the market and the property, time and effort to learn about tenant screening and property management, the ability to anticipate appreciation/depreciation trends, etc., etc., etc....and even with lots of skill and preparation, things will still go wrong (vacancy, plumbing leaks, bad tenants, etc.)

This has to do with current housing market trends and historically low appreciation in those markets.

- Listing price to buy: ~$700k a few months ago- Rent: $3.4k- Master lease up to 2yr- $10k initial nonrefundable deposit towards down payment- 15% of rent will go towards down payment - First month, security deposit, and $10k due = $16.8k In my opinion you are gambling in a market that is trending down.

Do you have the resources to continuously evaluate your rates and reservation trends, and the time to adjust your rates to keep your property occupied at optimum rates? 

I see some in my area that look to be in decent shape but says the property was built in 1886.

Although the building is an older building the unit is in pretty good shape and needs mostly cosmetic rehab/repairs.

Hi @Mike Hsiao Pretty much everything I own here in san diego fall into those decades you mention and you don't necessarily need to upgrade major systems just because the property is older.If you get a good inspector, they should be able to tell you if things like pipes and electrical are original and more importantly if they are in decent shape...sometimes even if something is very old, it doesn't necessarily mean it needs to be replaced.