Rents are low on the one property I'm looking at and at $625K, I feel rents could go up close to $100/door without too much push back because of the location.Touring the outside of the product tomorrow and if it looks good, I am going to work on getting in next week.Any pointers or thoughts anyone has that they can share would be appreciated!

As a general rule a property needs a complete redo every 30-40 years, depending on how well it's been taken care of, the climate and the quality of materials: cheaper built homes will wear faster.To illustarte: a midwest home built in the 1960's and sold for $100k may have a replacement value of $200k - check your insurance paperwork for a quick reference.

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.