As far as the garage concern, it was not included in the lease. 

If high rates are your primary concern, you could potentially look around for a similar arrangement.

Even if OP can complete a purchase in Cleveland with $23K, aside from valid concerns others noted about reserves, is the risky asset in a distant market really the best place to invest?

The one percent and 2 percent rule ive never looked at ... cap rate is .. meh .. its there - what im most concerned with is the price of the home relative to comparables and cash on cash to start.   9)  I look  the other way if it is a multi unit that is not separately metered - thats always one of my criteria here in pgh as there are a lot of older homes and a good portion you wind up worrying about who will cover utilities.  

I am however concerned about the difficulty in having in obtaining a return of funds I’ve invested in the AHP Servicing fund.

The demand for affordable, shared housing is strong here, so filling vacancies shouldn’t be a major concern.

That's great that the bank who currently holds the note wants you on 20 year or 15 year amortization, they view you as a captive customer, they don't have to earn your business any more, as far as they are concerned. 

I'm strictly concerned with ROI and how it looks to potential buyers.

They remain available to assist investors throughout the investment lifecycle, whether it involves refinancing options, addressing financial concerns, or facilitating future funding needs.

I am 100% against prenuptial agreements.If someone is concerned about losing their investments, they should be careful who they marry.