Oh gosh, that is so area dependent and skill dependent that no one can give you a straight dollar figure.

@Carmichael Lewis  Oh no! 

It looks like you are Columbus, Ohio but my property is in East Columbus. 

Oh, and how on earth would just buying it bring up the value to 400K?

I'm looking to start investing in the Cincinnati area Market and I'm just really looking for some Clues and tips on where I should begin??

I'm not too familiar with the Hamilton OH area, other than visiting while going to Miami, but $1400 a month seems reasonable.  

I own property in Ohio and California and have been refinancing several of them. 

Hi @Tennessee Williams, I would also suggest looking into the Columbus, OH market. 

I find myself thinking "Oh, yeah add value then refinance to pull money out for the next deal" without taking into account the increased monthly payment and with numbers being so tight I likely wouldn't be cash flowing with that higher loan amount. 

I plan to move to Dayton, Ohio and purchase buy and hold multifamily properties until I hit my freedom number!