I've done some negotiation with the seller already and we've agreed on the broad terms of the deal.

I use my license for multiple activities: Of course- comps, when buying and when selling, tax data- to see what I am about to pay when i own the home ( for long term holdings), check the DOM (days on the market) for the subdivision I am either buying on, or when I plan on selling, etc. 

And there you are in luck because you can purchase any type of investment property anywhere in the country and defer all tax as long as you purchase at least as much as your net sale. and use all of your proceeds from the sale in the purchase. 

For investors looking to maximize returns while managing risk, here’s why this type of deal stands out compared to Treasuries.Treasuries: Safety with Limited UpsideTreasuries are an attractive option for those seeking safety, especially short-term bonds with maturities of one year or less.

Play the long game and hold onto that equity. 

I would find a loan officer that does both conventional and FHA renovation loans to compare which has better rates and terms for your situation.

At the average rent point of Columbus ($1837), I believe the 50% rule is aggressive and your expenses are likely to exceed 50%.https://www.neighborhoodscout.com/oh/columbus/real-estateThe long term appreciation (this century) is average (3.84%) for the US but good for Ohio. 

2) How long can your reserves support the negative cashflow3) What's your plan to solve negative cashflow long-term?

In terms of using BP - I highly recommend setting up some "keywords" in your settings so that you can get alerted to discussions that talk about "CPA" "Bookkeeper" or "Bookkeeping" and related terms!

@Keith Angell What are your long term goals?