I was initially thinking a low maintenance, cash flow neutral, A+ property, just generating high quality equity would be ideal.  

I am looking for single-family home REOs and short sales no more than $100,000, ideally around Bexley and Gahanna. 

I haven't refinanced or pulled any money out because my ideal DTI ratio on my portfolio is 50-75%. 

It's shocking I know, but once you cross that barrier a lot of banks actually have it as an auto-reject criteria. 

To lessen your time required in this deal, i would try to do auto draft from his pay to my rents account, or make him deposit his rent in your account so all you need to do is go to online banking and you know it's there.

I proved she was falsifying her expenses by pointing out the inconsistencies in her own paperwork (i.e. claiming monthly auto expenses when she listed that she didn't have a car), talking to her family members (whose contact info was listed on her original rental application), and also reviewing her paystubs (which she had to submit with her court motion) and talking to her employer (who was surprisingly very willing to answer my questions and tell me that some other garnishments she claimed were being deducted from her paycheck actually were no longer being deducted).To answer your second question (what if she had gotten a new job), I would have done what I did in the first place to find out where she worked....talk to her family members, check social media accounts (people will often post it on Facebook or LinkedIn), and do a good old fashioned Google search (in this case I Googled her name and found her name, phone number and workplace were all posted in an online roster for contact people in her industry). 

Bret is right on, a "comp" is a comparable sale, just to add a bit.Comps must be selected based on time of sale, location, style and comparability to the subject property, the subject property or "subject" is the one you are comparing the comps to.An ideal comp is a sale within three months and within the same subdivision, or within 1 mile.

Ideally I would like to get both leases timed to end in the spring.Thanks,Rick

Some of the areas I deal with are just outside the bourded and burnt out areas where the proeprties are still well cared for mostly.

Unfortunately, it is NOT an easy task to undertake when collecting past due amounts owed.It is especially tough when you are an Out-of-State Owner and your tenant defaults.Hiring a Professional Property Manager is ALWAYS an ideal solution so that you know that your property is managed by a professional real estate agent and that they are LOCAL.Our company for example is able to provide all services from leasing up, to property management; we are able to collect rents and if not, we send the required legal notices and ultimately file an eviction through our attorney with typically minimal cost to the owner.If anyone is interested in our services, please visit us at http://www.axiomresidential.com