I know many people who have lost money from buying low priced "cash flow on paper" Class C properties (myself included).

Does this make any sense?

The "other structures" were only 10K, while everybody else goes by 10% of the coverage (on 340K coverage of the main structure, you get 34K other structures).The ugly part - much higher deductibles: $5000 general deductible and 3% wind/hail deductible (on a 340K coverage it comes to a whopping $10K+ deductible...makes you understand their "largesse" on unnecessary higher coverage...if they know the rebuilding cost is 250K, they can give you 300K+ because they will not have to pay more than rebuilding cost, but it pushes the deductibles higher).We concluded:1.

I'm also reading about a step up basis which would pretty much make capital gains tax my Dad would owe, zero.

I would look at your wish list here and pare it down to necessities to make the project clean bright and sellable. 

It is my understanding that the STR rules in Cleveland are as follows: - Density limits: In residential districts, STRs can't make up more than 15% of the total homes on a block or units in a multi-unit building. 

The city's diverse population and economic stability, thanks to major industries like logistics and healthcare, also play a big role.Memphis offers attractive rental yields and a vibrant cultural scene, making it a great place for both renters and investors.

I just want to make sure the house will remain standing for the long term.  

If you don’t plan to hold the property for a very long it’s not worth the hassle. it will make your resell harder because you will have to disclose that you did foundation repairs to the property on the sellers disclosure. hope this helps best of luck!

Have you ever considered using private money loans for your real estate deals?