It appears that you do in fact have a success story in my opinion.  

It's said that Toledo appears to be one of the most attractive markets in the country for investors looking to buy single family homes.

Given that these appear to be investment properties/MFH, do I need to worry about being unable to recover against that property (assuming the property could be sold for something higher than the total loan to RS)?  

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I think i just take the pro-rated 8 months of depreciation in 2016 (for both actually) but when using one of the automated web services to do my taxes, i get a warning talking about net gain or loss Form 8829 , referring me to 8549, and form 4797.  

Next step (or first, depending) would be to get new pulls for them, or if they don't have pulls -- I can't tell in the photo -- you can get some and install them pretty simply.A side note, as I can't tell if the kitchen is already partly open (it appears so), but here knocking down walls to open kitchens up does help increase interest.

I can perform the math "forward", just haven't had a lot of pracrice doing it "backwards".If any of the math people out there see this, could you maybe create a cheat sheet full of these equations as they appear in the metric and then twisted back to allow for easy calculating of an offer price based on the desired result and upload it to the shared files for everyone?

And the reason that it is less expensive out of state is usually the exact opposite reason as it is hard to find a deal in LA, there is much less demand and higher supply of housing ... even if the cash flow on day one appears high, if the rent increases don't keep up with inflation then CapEx will eat your lunch in the long haul and you will be losing purchasing power each and every year.

There is water in the crawlspace because they didn't secure it properly, that appears to have washed away some of the foundational support.  

I know the questions appear to suggest a product or service to market, but the survey is really just to get some information as a new Landlord and see what other people here think.