. $1000 positive cash flow per month seems high.The fact that the property is 100 years old may have a definite effect on your cash flow.

Scott's The Book on Flipping Houses, the positively portrayed in that book and in the you tube videos is what drew me to BP. 

Landlord shall have the option to terminate and cancel the Amended Lease ("Landlord's Termination Option") by delivering to Tenant written notice of Landlord's exercise of Landlord's Termination Option (the "Termination Notice").

So you will be in better position if you buy it little less than $70,000.

As long as the proper notices and disclaimers are included in the terms, what the bank did (or tried to do)  here is totally fine.

I've noticed you can find duplexes and fourplexes in Cleveland easily, but because of higher property taxes I'd need to buy in lower C / D areas to make decent cash flow (this is just my initial research).

Is there a certain size (Bedroom,Bath) that you target or have noticed work better for rentals? 

I would say if cashflow is positive and your criteria has been met I wouldn't worry too much about the appraisal.

Sounds like you're doing all the right things to position yourself for your first purchase.I couldn't agree more with @David Cruice - I think it will be important for you to find a local bank / credit union to build a relationship. 

At this point, however, the cost of entry is very high, and I don;t know if appreciation will continue at the same rateIndiana is cash flow positive immediately, but doesn't appreciate in the long term as much- historically.