I need local opinions to validate my assumptions on ARV and rent estimate (high-end rehab) on a duplex in Franklinton (3/1 on each side) from folks intimate with the Columbus market.

Assumptions:700/mo income over 7.5 propertiesI plugged in your numbers and this is what we come up with on an IRRYour 7.5 houses: -150000 Down Payment 63000 Year 1 63000 Year 2 63000 Year 3 63000 Year 4 63000 Year 5 31% IRR My Single House: -150000 Down Payment 14400 Year 1 264400 Year 2 4800 Year 3 4800 Year 4 4800 Year 5 40% IRR

Figure out whether you want to be active or passive first...and then decide on the strategy.Returns can be higher with active investing because you are not splitting profits (this assumes we make good acquisitions, which is a big assumption).Syndicating opportunities yourself is a job (deal sourcing, investor relations, asset management).

Given this kind of condition and buying environment I would make the assumption that the house is in need of 'major' repair and work your numbers that way.

For a Demetology client, my assumptions are that you are looking at around 3000-5000sf (could be wrong), and on a 10 year lease it wouldn't be uncommon for the TI base to be around $15-$20/sf with anything above that amount being amortized into the lease over the 10 years.Again, these are ballpark estimates with limited information.

. - Management 10% Even with these assumptions, my model shows I am still making a little over $200/mo per home in pre-tax cashflow with little to no cash in each deal.  

In most cases, from a legal perspective, if it's not clear in your lease, and I assume your lease doesn't say "landlord responsible for maintaining ice maker," you'll need to get it fixed, If there is a working item in the house when the tenant signs the lease and that thing breaks, the assumption is that the tenant rented based on what was present and operational during their walk through. 

But that is just an assumption.

Yes I am making an assumption that the price of the real estate increases with time.

You also need to look at the comps as well to validate your assumptions.