The other option would be building an addition on our existing home, and turn the one bedroom rental into a two bedroom, perhaps making it an Airbnb rental. 

These are professionals with additional training and a stricter code of ethics.

I do recommend to use inspection, especially since I am abroad investor.In addition, the inspection report help me to make sure the contractor quote covered all major issues, and I also use the inspector to visit during the rehab to make sure the contractor finished each construction stage.Investing ~$250 in inspection in compare to the money you invest in buying and rehabbing is not major and reduce your risk.Good luck.

In addition - cities within Ohio have their own city taxes.

In addition, the person with a disability can also file suit against you.

The other issue is that you will most likely have higher loan rates and higher down payment requirements (at least 25%) if you try to buy a property under an LLC additionally you may still have to personally guarantee it to the lender under your own name especially if the LLC is not 'seasoned' or over 2 years old.

Hello BP, looking for some perspective/opinion on which route to take with $50K cash with the goal of long term buy and hold: Pay cash for a BRRR - $50K Purchase (finance) two $100K properties - $50K down payment (in total)For simplicity, assume my numbers/deal are spot on and the cash flow in both scenarios is the same.Pros of 1 BRR – Left out the R for repeat...as I would hold on to the property - No loan, one property (with same cash flow) – slightly less maintenance as only one set of mechanicalsPros of 2 financed properties – Leverage, mortgage paydown by tenant, more potential appreciation (2 vs 1 property)Cons of 1 BRRR – less rehabbed (just rent ready) vs 2 financed TURNKEY propertiesCons of 2 financed properties – lower cash flow per door, paying additional (taxes, insurance)thoughts?  

I've advised my client to do additional research on this. 

In addition, there is no access panel to allow maintenance of the plumbing, which the inspector says is required.

In my opinion, prices will be up a year from now, so in addition to spending $24,000 renting, you will lose out on a years worth of property appreciation when you sell.As far as renting to you, I would not.