It’s hard to say what will be required and what might be overlooked.If the property is in rough shape, assume that the landlord knows what’s coming and they don’t want the headache.I’d be looking for a bargain; factor in everything on the report when you complete your home inspection as many of it might need to be fixed for the city.

Another major factor is time.   

I think your right about all of these factors impacting prices. 

Thanks Evan.regarding the $100K/$80K comment, someone asked what the current value is and I am saying between $80 and $100K.I did not include Capex costs because I do not expect them to factor in the next 5 to 10 years on a complete rehab(everything new). 

If you run the numbers (at minimum use the BP calculators) and factor the expenses of rental property you'll learn what COC means.

what were some of the factors that led you to the Cleveland market?

There’s many factors that I see causing issues with people trying to move right now, so I think there is some validity to your tenants story.

Again here, the deciding factor seems to have been that the home, the essence of the residence, was never demolished/removed, retaining the nature of the sale proceeds as being from the sale of a principal residence.

Hello all ,My wife and I are in the process of making a plan to invest in our 3rd property , we have our primary which we just bought with a conventional loan a couple weeks ago and we have our rental property which we put a tenant in just a few weeks ago also.We plan on using a equity loan from our rental to use as a down payment on #3 , my wife has brought up a solid point as how will the banks loan us a investment loan with debt to income ratio being a factor as if they will or won’t loan us the money.I would like to receive feedback as how others have done it and what strategies they’ve done.

Even most of the wholesale deals we see now are sitting between 85-90% ARV once you factor in obvious repairs.