If that’s limited then your safest bet now is to buy a duplex or triplex that is in disrepair that you can put sweat equity into.I can’t speak for your skill set or risk tolerance but if you’re just starting out with investing and have limited flip experienced you’re safer bet is to go multi family.

I bet it’s under 4.5 percent assuming 30 year fixed and good credit.

This group is (on average) grossly underfunded for long term care needs so I'm betting these homes will have a lot of deferred maintenance as the owner's retirement dollars are siphoned off to medical and paramedical services. 

That's your best bet.

@Andrew Rinne my bet is that the City does have code for yard maintenance.

I will bet you will be back on here in the near future with major tenant management issues.

However, I came from a place where I had very little to lose...it was go big or go home time... bet it all every time.

If the neighborhood does explode in value and trendiness, then your next upgrade is going to be exotic granite that looks great in photos, because one exit strategy is to sell it to an investor that lives fifteen states over as a safe-bet turnkey and plow the money back into the next up-and-coming Cleveland neighborhood. 

I bought my 3 current rentals in 2011-2013 area, so I still did pretty good as far as purchase price, but I would have been even better in 2009-2010....When the numbers don't make sense they don't make sense....don't get suckered into buying stuff just because every one else is... the "what am I missing?"

I also like the idea of living in your rental and fixing it up and then moving on to the next ( if they really popped up that quickly ) but hell.. living in that sucker would call for some quick progress!!