@Sam LiuYeap, that is exactly what I concluded 10 years ago - low return and a waste of time....Glad I was gutty enough to cut loss right away and came back to CA, and had more than recovered all the OOS loss...

. $2900 rental income. 40% expenses = $1160/month Opportunity value of $450,000 @ 10% = $3750/monthNet monthly loss = $2900 - ($1160 + $3750) = -$2010/month......- $24,120/yearNot a investment by any stretch.

The average cost of a call for advertising in large complexes we were told was $60.00 so if we missed a call or failed to book a showing, or refer a call to a sister property if we were full, they figured it was a $60.00 loss per call. 

If that was feasible, there would be people doing it.

I expect to cut my losses on the 2 duds a 10 unit in Cleveland Heights, right by South Euclid and an 8 unit in Shaker Heights.  

That 1% paid to the mortgage broker is chump change compared to the losses you could incur from the financing actually not happening.2.

Selling the home from out of state is not very difficult just find a good realtor, since you just bought the house you can expect to incur some loss due to broker commission etc..

This will help you learning how to identify which markets/ areas are good for investing, types of properties to pursue in these markets/ areas, learning how to analyze a property to determine feasibility of acquisition, the art of due diligence and market analysis, determining which which financing is best to pursue, etc.

Youd have to account for the rent you paid yourself as income to the RE, so unless youre operating the RE at a loss I see no tax advantage.

The seller is instead threatening to "not close" unless I sign a statement saying that the "work was completed to my satisfaction", which it has not been, so I am not willing to waive that right, as I estimate the outstanding loss to me to be ~$4,000.