So, the best advice I could give is to first look at those 3 factors I mentioned: 1.

HOWEVER, they will also look at other factors such as DSC (debt service coverage).

You probably want to sync with an Ohio CPA as well to confirm tax treatment advantages.

At this point I could've moved on to a different buyer to simplify the process, but in order to make this work and NET more money, I decided to close on the house with a hard money loan with the seller, then sold it to the end buyer for $450,000 a few days later.There were more fees this way, but like I mentioned I still netted more money as opposed to assigning the property for less.Here's how the numbers played out:Purchase: -$370,000 Hard Money Loan -$14,501.47 Closing Costs (out of pocket)Sale:$450,000 Sale Price-$12,000 Selling Agent Commission-$9,352.33 Closing Costs-$369,737.24 HML Payoff=$59,649.55 ProfitNotice the buyer did have an agent so I factored her commission in.

Property management is another hot button here, so you'll get differing opinions on that too, but would suggest that you at least run your numbers with a PM in place just in case you ever want/need to switch to one, the cost is already factored in.One thing I do is hold my properties in land trusts so my identity to the tenant is now known.

It's virtually impossible to get even air flow from all vents, and you usually don't want even air flow from all vents anyway as some areas will need greater volume and others less volume depending on a lot of factors such as where the room is located in the building, windows and other low-R value fixtures, exposure to south/west vs. north/east, ceiling height, etc.

We upgraded the carpet to vinyl flooring, did a bunch of treatments for the smoke (vinegar, ozone, Killz), repainted the cabinets, and installed some cheap upgrades throughout.

When you factor in property taxes of 1% the appraised price, interest rate of 3.25% for 30 years, and annual insurance of approximately $500, your PITI (principal, interest, taxes, insurance) monthly payment comes out to be approximately $2,000. 

This may sound broad, but I study every factor/variable that may have an effect on my investment strategy and specific target market.

Your understanding of capital gains treatment is incorrect so please talk to your accountant.