Quick question: If your cash flow is pretty low, what is your plan for upkeep, upgrades, incidentals, etc. 

As an investor and agent here in Columbus Ohio, if you have any questions or want to connect, definitely reach out!

It also is worth approximately $140k more than my property is currently worth.My question: when evaluating renovations, is the math as simple as (Additional rent expected per month due to renovation * 12 months/yr)/total cost of renovation = ROI.

Thank you What is your question, where to start and what to do? 

Happy to answer any question you may have in the future. 

So, it is not the question that the cleaning took an hour instead of two (as an example) so she should charge less.

Make sure property is “self supporting” meaning sufficient income to produce some cash flow after operating expenses and debt is paid.If one does that, they are set up for a profitable long term hold.If one invests in a prudent manner and is never in a position where they have to sell, they ultimately win.The top or bottom of a market is never known until 6 to 12 months after the fact.I’m a long term investor - my capital is patient.Here’s a question to ponder:If you could buy a property today for $1M, knowing it’s value would drop to $950,000 over the next year but would be worth $1.5M in 5 years, would you buy it today or hope to perfectly time the market and get at $950,000?

You can host your own open house but be aware of questions you get asked and what you disclose or fail to disclose.

The question is, is the "problem tenant" violating state or local law or the lease agreement? 

The answer to your first question is, of course, it depends.