One set of grand parents rented one side of an old duplex in Shaker Heights near Cleveland and they lived there until they died.

Cheap money (low interest rates) and an active buying market drove market values to historical heights earlier in this millenium and the absense of both are having the opposite effect today.

You could always sell them through a Lease Option...get a consideration up front to lock in a 12 or 24 month purchase price..drive up the monthly rent a few hundred higher than the current and offer rent credits if the tenant exercises the right to purchase.

Those are just a few of the high level considerations when deciding to invest in Opportunity Zones and selecting a fund. 

You may not have to do a 1031 exchange unless there was a considerable amount of appreciation from the time that you inherited the property.

The best deals I've seen here have 1-3% COC return once all expenses  and average vacancy rates are taken into consideration.

Otherwise you are limited to 6 month or longer leases.One other consideration, if you are out of town and offering short-term rentals be sure to hire a good management company that has an established clientele and offers reasonable rates.

There are just so many different variables to take into consideration when picking a market that there's no right answer, you just have to find what will work best for what you want to achieve.

The unit need its own rehab before all of the damage, but it is much worse then it was upon consideration a month ago.  

This is not only a big consideration when thinking about what quality materials you are using in a flip (More expensive areas and homes would require better finishes), but different types of work have a heavier cost of materials vs the labor than others (Painting vs electrical).