Buying out-of-state properties for cash flow can be a smart strategy, and Petersburg, Virginia could be a potential option worth considering.

For your Cleveland BRRRR adventure, zoom in on neighborhoods that look promising, learn about property values, repair costs, and potential rental income.

@Mike Hsiao1) Inspect home ASAP to determine:- If they are taking care of the property and YOU want to renew- Do Pre-MoveOut Evaluation of potential repairs needed.

I find potential tenants wanting to move in the same day of write you a check on site is a big red flag.  

So a booking on airbnb where a tenant is paying $2500 a month after airbnb fees is most likely closer $2000 in your pocket after airbnb's cut on the booking.Vs, paying the $99 for furnished finder, paying for someone to manage the application process, is going to be a lot more money to you over the course of the year while also potentially being able to offer the tenant a better deal (no taxes or fees).  

Yes, for a few reasons.1) local to you - you would most likely have an edge to start right where you are, since you may have better access to data and physically can go to the properties and/or meet investors in person, if need be, etc. 2) since the #'s are typically larger here (SoCal) you have the potential to make larger $'s !

The seller should be able to provide a clear title guarantee.Property Survey: Including a recent property survey in the transaction can help clarify the boundaries and dimensions of the property, avoiding potential disputes later on.Home Warranty: Consider including a home warranty for a certain period after the closing.

By scalable I mean there is a lot more potential as to how many properties you can buy with less amounts of money.

You could potentially sell the property furnished to someone looking for a vacation home or STR like yourself, that may help recoup some of your costs.

You are trying to compare oranges with potatoes.You will be converting an IRA that is invested in the stock market you have no control over into potentially some real estate investments.