Or you would have to have a septic service come out between guests and also fresh water delivered and a working generator with gasoline delivered also. 

I am an out of state investor currently looking into the Cleveland market and trying to understand its current health from a multi-family perspective.

It is filled with fresh Swedish cooking that is healthy, looks and tastes great, and is priced low enough that you think the Swedish government has subsidized it!  

@Matt HoytI also think 10% down is great, and from my perspective 5.5% interest only seems low to offer.  

Hey there @Christopher Meadows So from the HML perspective.

Speaking from a tenant perspective, if a landlord gave me a tenant reference it would definitely help them stand out to me.

From an accounting perspective you'd have a replacement reserves account for the property and assign part of the cash inflows from the property to that.

@Nick CiarnielloYou need to collect far more information before you would know whether you have a deal worth pursuing:who are the clientele;how does the rent role compare with the local neighbourhood;what is the economic vacancy (physical vacancy + turnover + uncollected rent + evictions);what are the operating costs;what is the physical state of the assets (roofs, HVAC, envelope, appliances, parking, etc) and how much near term re-investment is required or likely;what is your target rate of return.You want to obtain real numbers (not rose-coloured prospectus projections) for the past 2-3 years and use them to carry out your own discounted cash flow analysis of the property.Also keep in mind that properties freshly on MLS - particularly during the hopefulness of spring - are rarely priced appropriately to be a deal.  

Almost 2 cents of perspective there, maybe 1.5...

Chris Martin thanks, I tend to chime in from time to time where I believe I can provide some perspective and or value.