If the employment is in Columbus and the rental property in Cleveland, the income is apportioned.

Quote from @Bruce Schussler: A lot of Podcasts and Youtuber's say to cash-out refinance to keep rents balanced with payment; (PITI) then use those funds strategically to re-invest either in more real estate or just put into a high interest bearing account or money market account...Here's some of my thoughts and comparisons;Cash-out refinance with new loan so rents balance with payment:- The cash-out refinance is 100% tax free- The funds can be put into a money-market account off-setting a portion of the interest charge of loan- The loan balance gets eventually destroyed by inflation- The liquid cash eventually gets destroyed by inflation - The interest on the new loan can be deducted from the rent income- The refinance costs are 3-4% of the total- There is less equity in the property and LLC that can be attached in case of a lawsuit- The break-even on cash-out refinance with current interest costs on the new loan is around 12 years Vs.Paid-off property with positive cash flow:- The positive rent income is 100% taxable minus only depreciation and property tax- There is more equity in the property and LLC that can be attached with a lawsuit- The break even is not until after 12 years at today's interest rates- There is a rate risk in today's inflationary environment where interest rates on bonds keep rising*It appears to me that the cash-out refi is in the best interest for a property investor; (Dave Ramsey would strongly disagree!)

Are you in the process of taking the licensing class now?

The title to the home as been purged.

Also, any tips y'all would give to people who are just starting out, also I am open to other nearby areas where barrier to entry is still relatively low.

Maybe renovation costs get blundered so the spread is too weak, but the appreciation and refi potential is there.

You can customize the approach to your own needs.

There is no differential factor number, however, it will change if you are buying tenant occupied, if they are are going to be vacant at closing, if they are going to stay the full lease or you have to pay cash for keys.

Hi, I have a landlord's policy with Farmers Insurance; the rental property is a single-family. 

Without someone knowing the ins and outs of this, the information you receive will be just someones opinion but probably provides no strategy or path on how you should invest the $