I did pull enough out early on to pay off my own home, so I am currently debt free besides my 0% apr auto loan.My plan is to learn as much as possible here on BP and diversify a big chunk of what's left over into local real estate.

I hope to possibly pull from you and others a portion of your wisdom.

Two paystubs and a credit pull?

I pull the comps my self I ask my agent if my comps seem right then put in a offer .The web site the agent gave is well designed.

If you still are comfortable with these numbers than pull the trigger. 

In addition, expect fracking companies to default in record numbers in 2016, pulling heavily on the Cleveland market. 

@Paul MacInnisUnless there is a strong demand for new units (your fire just improved the vacancy rate) and you wouldn't just be pulling the better (of the poor) tenants from other properties, I would not consider rebuilding at this time.  

You would never assume 100% vacancy so even at a modest 10% for vacancy, once you throw in $700 in property taxes, $300 in insurance, $1200 in yearly HOA and assuming 10% in variable cost PM you would be lucky to pull a net operating income of $630 however cash flow once debt service is accounted for you'd be more around the $100-$150 range a month.

My experience has been, a refi isn't realistic any sooner than six months from purchase, and a year is more likely.As for the amount you'd be able to pull out, you answered your own question.

Matthew Dion did you ever end up pulling the trigger on a property?