In this area, market values hit around $4.95 million, giving you a solid 131% ROI.

Focus on networking with local investors, learning market trends in your new area, and deciding on a strategy that fits your goals.Good luck!

Cleveland and Dayton can be great markets for high cash flow and low purchase prices, but you need to be careful when navigating the neighborhoods so you're not buying in a D/F class area where no property managers will manage and where you'll never see any positive cash flow.

But to date, I've just set my rents at a rate that accounts for me having to pay the water bill - and informed the residents that each year I'll increase the rent based upon my expenses (including water), so keeping the bill down helps me to help them.But one problem this could cause is if increasing the rent to cover the water bill then places your rent above the market rate.

Since you're focusing on Dayton and Cincinnati, you'll find plenty of opportunities in those markets.

But it really depends on how good your marketing is.

With rates where they are, I'd expect you don't plan to be in the mortgage for more than 3–5 years (maybe less) depending on where the bond market goes. 

The Cville market is quite competitive.

@Ellis Moyewe really don't know a lot about this situation since there aren't many details in your post... but i don't think this makes any sense for anyone involved here...if it's a flip that's not selling, refinancing may not solve your problem and allow you to pay back the HML in fulland typically a sub to buyer wants a low interest rate... and if you refinance now you won't be getting a low interest rate, you'll just be getting whatever the market offers.and finally.... the vast majority of loans are NOT assumable. 

Find a market or strategy, sounds like youre starting with land.