Here in Cleveland just like the rest of the country we have many neighborhoods with homes priced well about $300,000.I created The Ultimate Guide to Grading Cleveland Neighborhoods to give out of state investors like yourself an idea of what's what in our market.

I created The Ultimate Guide to Grading Cleveland Neighborhoods so investors knew which areas those were so you'll want to give that a read.Note I am not saying you shouldn't invest in the rougher areas I am just saying you need to know what you are getting yourself in for.

I'm not really sure what to grade the neighborhood it's probably B-It looks like you've put some thought into your own MFH-are you looking MLS? 

Over the next few years I poured all profits back into upgrading the properties until they were B+ grade. 

For more info on Cleveland neighborhoods and the grading scale I am referencing check out The Ultimate Guide to Grading Cleveland Neighborhoods.

It is RICO grade crime folks.

I think the 1st thing you should do is read The Ultimate Guide to Grading Cleveland Neighborhoods then let me know what type of investment appeals to you & I can give some guidance from there.

Need to verify specifics but was just told about this pocket listing & here's what I know so far:For Sale 200 acre development for only $250K; has 130 lots (~20 lots are already developed with houses); lot size is from 0.75-1.5 acres; in Phase I of development (roads for about 40 homes are graded & graveled with electrical buried), rest of land has not been touched; owner is currently selling individual  lots from $15K - $25K (generally more expensive lots have a well & septic, cheaper lots don't); manufactured or stick-built homes allowed; restrictive covenants attached (waiting for document).Location is in a rural area in the SW; local economy is based on transportation, agriculture, energy, retirement & tourism; 3 miles from a major interstate highway; on a major shortcut between 2 interstate highways; 10 mile radius population is ~ 20K; closest city with over 100K is only 1 hour away; cost of living & living expenses are definitely on the low end, great for retirees and the cheaper than average labor.Quick overview & simple math tells me that only selling 90% of the lots at the low end of $15K is just about $1.5 million.

Just with a low grade tenant base for the most part.

Older homes used to be pier and beam but now everything is slab on grade because it is cheaper.