@Jad BoudiabHey Jad, we worked together trying to find suitable deals early on in the process.You’re a great professional.I think we shouldn’t miss the point of the post, which is that Cleveland (as a sort of poster child for the cheaper MidWest markets) is fraught with dangers for out of state investors who surely do not have the sort of ground knowledge locals have-nor can they get that knowledge by simply flying in and driving around with a broker for a few days...as Jay mentioned.For me, it’s pretty obvious to any neutral reader of this thread that all the counter posts to my original post have been by people BASED IN CLEVELAND or who run a real estate related business in Cleveland.That’s not a coincidence.And it’s enough proof for me that my post touched a nerve with those who have stakes in the market.That’s understandable.But it’s the investor who risks capital.Not the stakeholders who stand to profit with their business, be they brokers, contractors or developers.

Looks like you are getting very poor guidance, which is dangerous to your IRA.

The landlord may terminate a rental agreement within three (3) days of written notice received by the tenant if the tenant or any person on the premises with the tenant’s consent commits a violent act or behaves in a manner which constitutes or threatens to be a real and present danger to the health, safety or welfare or the life of property of other persons on the premises or creates a hazardous or unsanitary condition that affects the same http://www.lexisnexis.com/hottopics/tncode/

So a single Judgment/Warrant of Restitution isn't going to do you any good.A tenant can withhold rent if there is a dangerous condition on the property, but the landlord must be on notice of the defect.

I was only commenting on the fact that buying wrong on a long term hold and then hoping for appreciation/rent growth can be a dangerous game.

Thing is they are vastly different housing units and investments, each with distinctly different economics.

I had worked part time as a framing carpenter on my holidays and had helped build family members houses, so I had enough ideas to be dangerous, I demolished a non compliant addition to the house and rebuilt it to code on the same foundation.

So if you assume that all deals with high reward (high cap rate) must have high risk, then that's why you would think that any deal with a high cap rate must have above-normal danger to it.

Aside from prohibiting the dangerous breeds as per insurance, limiting dog size to 25 lbs (or whatever arbitrary number you choose) as worked well for us. 

None of us know how far this war will go, how long it will last, and whether it will spiral into World War 3.I do not mean to lessen in any way the seriousness of the invasion, but we all must face that it could have massive impacts on our investments and may present opportunities or dangers to our livelihood.