Make sure it's low risk, in a good area and you buy a quality asset, that would be easy to sell.

I like the flexibility of being able to take out 401k loans, are there any products that will allow me to take loans out there?  

Walls and painted woodwork get a top quality odor/stain blocking primer and are finished with a good top coat of paint.The ozone machine is a good idea to use at the end to give the place a dose of freshness.

The 203k loan is an ok product, but if you have some cash it is not my favorite product out there. 

Its the best product on the market!

I had originally planned to fix it and settle down here, but the quality of homes in this area has really made me think otherwise.

I would just accept the tax on SS as an extra cost of doing well in flipping and being productive instead of retired.The only way to do flipping without taxation is to do it inside your retirement accounts, as in self-directed IRA.

Take a look at The Ultimate Guide to Grading Cleveland Neighborhoods for some quality background info on the different types of investment opportunities you'll be exposed to when investing in Cleveland.

Rent Manager 12 is a full redesign of the product and includes all of the features you mentioned above. 

Get to know the rehab work they are doing, the neighborhoods they are investing in, and the quality of their property management.