When the "we buy ugly houses" people mention they pay all closing costs, are those for certain exit strategies and/or having the potential buyer pay for all? 

Others have mentioned some really good strategies as well, especially the HELOC.   

Give some information and knowledge and the benefits will come back to you tenfold.That would be in addition to starting a website, blog, craigslist ads, facebook posts, networking, telling all friends and family what you are doing, go to local meetings, code compliance lists, driving for $$, and a few others I cant think of right now.As mentioned above, you have to keep doing all of those consistently over and over.

There’s no mention of how much life is left in major cap-ex items.

@Carly Bailey someone else mentioned Akron too me as well, thanks for the advice.

Like the previous poster mentioned, screening tenants is a number one priority.

@Nicholas Sambrick In addition to those mentioned, I'd add The Real Estate Rehab Investibing Bible by Paul Esajian, and Real Estate Wholesaling Bible by Than Merrill (even if you aren't planning to wholesale).Also, @brandonturner published  "The Best Real Estate Books for Your Investing Business " on BP which might be helpful.I find audio books work best for me on the way to and from work.

@Callum Ross as @Jason DiClemente mentioned.

If you are risk adverse real estate, (especially out of state) is not for you.As for the specific markets you mentioned I know Cleveland. 

Oh did I mention it is an all electric house.