B- area or less, the sign notifies the neighborhood thugs that the house is vacant. 

Appreciation, maintenance, neighborhood, eviction rate, proximity, condition, etc.

There are a number of Cleveland neighborhoods that would fit your criteria including North Collinwood, sections of Clark-Fulton, and Lee-Harvard just to name a few. 

Explore options like conventional loans, DSCR, seller financing, or partnerships, and connect with local lenders to find the best fit for your strategy.Good luck!

@Travis Boyd The quality of the neighborhood will affect the cap rate to be used.

Maybe, but so far the reports are about neighborhoods where people have real money.

However, consider STR seasonality, local regulations, and management demands, and ensure your equity loan and new primary residence costs fit comfortably within your budget.

Something a couple of my beginner investors like to do is live in the property for a year or two then move into the next one and rent out the first one.Most important thing you can do is research the different niches within real estate investing and decide what fits best for you.

Which will also depend on the neighborhood.You want to, "rehab/maintain to the Neighborhood".Most investors go overboard on their first rehab and waste a decent amount of money.

Spend time driving for dollars in Tacoma neighborhoods to identify distressed properties.