If someone can provide a model to work from to begin a comparison, that would be super appreciated. 

Each market has pros and cons, but most plays will be made for cash flow and not as much for appreciation, especially in comparison to the West Coast markets.

I might as well ask another question since on this topic, is there a way to determine flood insurance costs and comparisons using the tools for the Houston and surrounding areas?

Even if my initial assumptions are off, my analysis seems to place a heavy case that the California State Income Tax pales in comparison to the savings I receive in Proposition 13 over a 10 year horizon.Is there anyone else coming to that conclusion or have done an analysis which counters my findings?

The only problem is the home is probably worth about $130-135k (just on a comparison I did online, not an appraisal or from an agent) and the mortgage is for $148,400.

I just did a comparison of Buy & Hold & Subject To that might be what you are looking for.

(I mean, love as much as I could love any rental property....they aren't flawless, but I don't have to put a lot of work in in comparison)

There is no comparison between the "old" and the "new"...

Surjit I cannot help with the KC comparison however I grew up in CLE and lived/attended the university of dayton.I can tell you both have pro's consThe two thoughts I'd throw your way is Population Size: Montgomery County - 500KCuyahoga County - 1,200,000Whats going in the cityDayton -Pro - Univerity of dayton growth, kinda between Columbus and Cinci, CheapCon - Loss of alot of big corporations, whats long term vision besides the universityClevelandPro's - Well diveresed with anchor companies for jobs, pockets of hot markets, land locked to the north with lake erie - (ie of anchor companies: Progressive, Highland Software, Parker Hannifan, Swagelok, Nestle, etcCon's - Rents arnt crazy high, going to fuel growth for future, I know that doesnt help with Cap rate opportunity analysis but hopefully as far as holding values overall long term I would - and do choose Cleveland. 

When Im using my own preferred service, Im using apples to apples comparisons.