We squeezed a family of 5 into a 1400 sq/ft duplex - but the other side paid all our expenses (PITI) plus some of the utilities.

Here's a great article regarding what this government entity is and how you can utilize their website for investing/loan advice.Best of luck!

For tenants that want to early terminate, we offer 2 options: one month rent + deposit, assuming there's no damages, and they walk scot-free, or they stay current on the rent, utilities and lawn care, and we will try to re-rent as quickly as possible once they vacate.

I have a roommate I found to live with me that pays me $700 a month and splits electricity/utilities with me. 

Possibly adding a second bedroom in a 16x12 utility room downstairs.Option 1:We do $240,000 + $25,000 - $40,000 in mortgage plus improvements from the bank.

There are a lot of costs that most people fail to account for.Sales taxesLodging taxesMarketingBooking feesCredit card feesRepairsCleaningLandscapingFurnishing the unitReplacing consumables (tp, coffee, soap, etc)Utilities, including cable/internetInsuranceThere's more I'm forgetting.

I run my short-term rental business out of my personal house under my LLC, which I drew up a lease between that creates an agreement to pay for utilities, internet and common household products I need to function my business in exchange for the property.

A couple of tips and cautions about using credit cards or lines of credit to invest would include understanding that your credit goes down when you utilize a high percentage of your overall credit limit.  

If you have an early termination setup most decent people will take that - we do one month plus the deposit if there's no damages, and they walk without taking care of utilities, lawn care, etc. or we can re-rent and they can be held responsible for costs until re-rented.

Be sure to talk on the phone with any potential Realtor, PM or contractor you will utilize in Cleveland.