Quote from @Jeff Mooney: Hey BP,I’m in talks with a potential seller who owns a 3 bed / 2 bath single-family rental.

In this case, you were right that this is unappealing; however, you missed that $1800 is very low rent for this submarket on a 3-bed unit.

There's a huge single demographic in todays world, so that one works in your favor and another large demo for those that are co-living with their partners/spouces, but can't qulaify for their own FTHB mortgage will likely push into studios/1's to save money to get to their first home, instead of renting a two bed.

@Todd MacDonald how likely is your relationship with the "ex" to stay friendly or will it deteriorate more over time?

He talks about needing a cheap, usually all cash, purchase, but those are not easy to find.the best brrrr markets are not the cheap markets.  

ALL agents are BUYER friendly.

@Matthew RichenFor a 4-bed unit in Shaker Heights, a reasonable ballpark for a full interior repaint is usually in the $2,500 to $4,500 range depending on the condition of the walls, ceiling height, number of coats needed, trim work, and whether there’s any patching or repairs involved.

Rents are dropping and vacancies increasing and you want to select a rental investment that will be more desirable than a basic 2 bed 1 bath unit. 

I would meet with an investory friendly agent, meet with a lender so you can lock down the zipcodes and areas you would be focusing on.

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