I'd love to try the mid term rental strategy with the property we find.

Cleveland is a great rental market, with a low cost of entry and strong rents. 

Your written buyer agency agreement will detail how much your agent is paid, and from where that payment will be sought.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

Eventually their rentals will start to turn a taxable profit and those losses can be “unsuspended”.  

@Mohsin Mazhar why didn't your rental insurance cover the hotel expense?

I own 7 rental units and am looking to build a RAL from the group up. 

Purchase price: $55,000 Cash invested: $30,000 Purchased property was renter-occupied at $600/month at the time of purchaseDid not renew lease with tenant.Completed full Renovation at $30,000 6 days on the rental market before the property management team got a signed lease at $1200/month Renter moved in July.ARV $179,980 What made you interested in investing in this type of deal?

I live out of state (in Washington) but have a few rental properties in the Atlanta area that are managed by a property management company.

Make sure you have the right resources before diving into out-of-state investing, since you won't be able to monitor your rentals in person.