@Micah Loewen there is a chance the property would appraise for the value that you want, but that it would be appraised as 'subject to repairs' as opposed to 'as-is'.

I’m looking to start with a long term buy and hold deal - your concern about HELOC is what I was worried about.

I bought a course, but you can do it without buying one.

Don’t the closing costs from buying and selling an investment property eat up all the appreciation (and mortgage principal paydown)?

I started a PM from chance; a couple of owners next to me asked me to manage their cabins, and things developed from there.Anywho...A good PM is going to take care of every single detail, with minimum intervention from the homeowner.  

Crosby as well (from what I have read).Prices are still quite high so you have to buy right and in the right area in order to stay profitable.

I personally started by buying a cheap crappy duplex.

So I asked myself, in todays market is it better to fix & flip or buy & hold?

Yes you can buy properties extremely cheap there but the flipside is that once yoI've rehabbed them, recouping your rehab and purchase money will prove difficult because of the low property values .  

I’m wondering how common of a problem squatting is in the Cleveland area, and what strategies can be used to minimize the chances of it happening.