@Hadar Orkibi, to give more insight on the $1.4M and rents that Ben mentioned: We're spending $7,300/unit on upgrading the interiors, so touching almost everything.

As mentioned above, take advantage of all the podcasts available.

Are Cleveland suburbs that bad in terms of the factors mentioned above ?

Liens are also great as you mentioned on interest, Indiana comes to mind for me because it's close and the % isn't too bad.  

I increased my rehab cost to include the holding costs you mentioned.  

Forgot to mention this would be an FHA.What seems "off" ?

Not to mention, are you actually all approved for a 30 year mortgage on rental property/non owner occupied?

Someone mentioned BIN shellac based primer for getting rid of strong smoke smells, but its twice as much as any other primer. 

The foundation company is now wanting to charge an additional $3500 to put in 4 more piers, not to mention I will have to spend another $4-$6k to repair and restain the hardwoods, which can't really be done while we are living there. 

I'm not aware of what people who have not been in the business for a couple decades search for when shopping for a management company in my area, aside from those phrases mentioned in my initial post.