To your main question, renovation cost in Cincinnati is around $200 per square foot for everything.

You can make some very costly mistake is if you don't know what you are doing.You should be thinking now about where you want to end up. 

@James BingNetworking at the local RIEAs and Facebook groups.There are a few power players in the area, deals flow has been low these days, and lots of non deals being floated about.Generally here is how the priority list goes and its based on ROI:1.

I'm considering moving out of state when I retire and am factoring in health care costs in the future. 

Yes, it may cost a lot more but being in NY it may offer a lot more margin as well.

Are you going to self-manage or add the cost of STR Prop.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

The hardest part for first-time investors is managing, finding, and keeping on track with contractors and costs.

Investment is budgeted for roughly 120K.  1) If we flipped, likely will get 50K in our pockets after closing costs.  2) If we hold, according to the BRRRR calculator, the CoC ROI is 16.8%/Inf%. 

)  - 60K in cash for downpayment +more for renovations- Strong local connections with contractors of all trades - Ability to get building materials at cost through family/business connections- Have a strong eye for style and design (Tends to lean on the high end of things as that is my business)  - 750+ Credit.