If you do decide to dig deeper into the Cleveland market be sure to read The Ultimate Guide to Grading Cleveland Neighborhoods.

@Travis Mullenixwww.city-data.com provides a good initial/big-picture look at the demographics of a city, broken down by a variety of factors…income, education, overall crime stats, etc.To dive deeper into the crime data, the police department for many cities maintain a website with call response metrics, crime maps, etc.  

I really appreciate the insight - now I need to delve into research !

I'll have to dive deeper on that.

Someone can be sued by the prospective tenant and the deeper pockets owns a place.Lastly a few days difference in closing date has been common place in my area and many others.

@Chris LainoDepends purely on the level of work that's needed for the home.At a certain level of physical distress, you won't be able to get a traditional loan product due to inspection or appraisal issues.If it's just outdated, you can still use a traditional product.Below that, properties in severe distress need to be purchased with a rehab loan or a hard money loan or cash.When the property is in poor condition, the deeper the discount.

I do know I am ahead of myself, but I am trying to ensure that I do not put myself in a bad position to dive deeper into real estate investing by financing my first home incorrectly.  

I also think if you were to put out a bit more detail on your situation you may get some deeper insight from of BP's more seasoned investors.

It is a fantastic introduction to syndication but also delves deep into how to vet a sponsor and how to analyze a deal. 

I'd dive deeper into it before proceeding.