I would not provide shovels or salt as then it appears, legally, that you you know it is an issue and are doing nothing about it.

Meaning anyone jumping on the wave while the market is rising, good or bad deal, will still appear to be “making money”.

Starting out the investment journey, after some research it appears the typical approach to the BRRR method is to use cash or some form of hard money to purchase the property and kick off the BRRRR process.

(For me personally we chose an outside management company as they already have the right contacts procedures etc in place and appear to have a great reputation and I was impressed when I spoke with them, but thats not for everyone)- When searching for condos/condohotel produce a lot higher gross revenue than ocean view but the closer to the water generally is always better in revenue- Make sure to have your agent recommend or do your research for mortgage brokers that do condotels as a lot of mortgage companies will not finance these type of propertiesFeel free to connect with me and I'd be happy to answer any questions you have!

The current 'owners' are a SFR rental company that appears to want to bring the note current. 

List price $750kActual annual rents $61,800 (listed rents are close, maybe able to get them to $70,000 @ 0% vacancy)Vacancy listed 9%Listed annual expenses $11,240 (only includes current taxes, insurance, water/sewage, lawncare, electric and trash)Listed cap rate 6%The problem with the expenses are many, a) it uses current taxes, which will go up significantly once sold, b) its missing management costs as the owner self manages, c) its missing any repair/maintenance costs as the owner does the work himself, d) its missing any Capex costs, e) insurance is based on his cost basis which appears to be much less than 50% of list price, f) using the brokers expenses, it makes expenses only 20%, which is bogus.I realize that this list price is way to high, please help me understand all the expenses I should be including in my CAP rate calc so that I can determine where the value should be.

I unfortunately have had poor experiences in properties using both platforms, but I will say it does appear to be more prevalent on Airbnb listed properties than VRBO.

I would also avoid using any of the phrases or appearances (eg yellow postcards or fake handwritten-font letters) wholesalers use. 

It's the equivalent of a Federal Prison. 

I would love any thoughts on: approach/philosophy of investing in NE Ohio; perspectives on where the market is headed in Cleveland (from research it appears like a stable area that could even appreciate with systemic impacts of COVID); areas to consider moving forward.Thanks so much!