$5-10k prices reductions tell me sellers aren’t very experienced and just hoping, so as a buyer in this market I wouldn’t be eager to engage.

You need to show that you regularly engaged in a trade or business as it pertains to EACH and every property.

I don't have a formal  engagement letter with the accountant.  

If an LLC engages in illegal practices, the owners can be held personally liable.

If the repairs are for damages caused by the tenant, your PM should be billing those repairs to the tenants.If the inspections show far too many repairs are needed, I would engage a real estate professional to give you an idea of valuation and net proceeds, to assess whether you should sell.Happy to intro you with our PM and/or realty team to see if they can help.

Furthermore, because I am working a full 40-hour position, I am willing to do a lot of the analysis work and so on but I would not be able to be fully engaged in the property management process.

I'm not interested in engaging in a discussion on whether you should or should not choose Cleveland as a place to invest in.

These are the target employers you selected.Pays all the rent on scheduleTakes care of the propertyDoes not cause problems with neighborsDoes not engage in illegal activities while on the propertyStays for many yearsI can go into more details on tenant pool selection if you are interested.Once you know your target tenant pool, determine the property characteristics that will target them:What type?

I engage with them the bare legal minimum. 

Get engaged and we will see you around!