$82k gross on a $700k purchase is not ideal at current rates.Margins are slim, and I worry that you are underestimating costs and potentially overestimating revenue (I would not take Rabbu projections at face value).Margins are slim, down payment amount is high.

Before buying, try visiting the market in person, walk some neighborhoods and meet your team face to face if possible.

Quote from @V.G Jason: "you're buying barely-desirable property(likely above market rate)"This is a bold assumption and a big dump on his parade.

For us, when we lend to investors, we either take the face rent (as long as it's within market range) or 90% of market rent for unoccupied properties.

This is common and then debate over who faces the "bad side" of the fence with the horizontal boards showing (hence paying a 3rd).

My ResearchI’ve noticed that some sponsors mentioned here on BiggerPockets have faced challenges.

If you’re into flips, design, or just want to meet some new faces, let’s put something casual together while we’re there. 

I once met a homeowner facing foreclosure and jumped straight into the math — equity, arrears, options.

Legal compliance gaps Cleveland LAIC, lead paint laws, rental registration, city violations, inspection requirements, miss one and face fines.Emergency repairs at 2 AM Plumbing overflow from 2nd floor, burst pipes, no heat in winter, electrical failures require immediate local response you can't provide.Rent collection issues Hard to enforce late fees or pursue eviction without local presence and knowledge of Cleveland courts.Tenant manipulation Tenants know you're remote; some exploit this with fake emergency claims or delayed payments.Contractor reliability Can't verify if work was done, done correctly, or if quoted prices are inflated for "absentee landlords."

If you are investing from out-of-state you want to make sure whoever you are going to choose to work with is being honest and transparent not just about the Flint marketplace but about the strengths and weaknesses they face as a company, day in / day out.