Having vacancy for a period of time will also decrease your return as will capital expenditures so hopefully the $1K is good enough to cover your costs.As others said, this may not be the best investment but only you can decide that and what your minimum target return will be.  

The only addition I would add is to take pictures of any of the evidence to support your intention to hold the house for investment property just in case you find yourself in a position of having to sell the house fairly early after the transaction because of a unforeseeable change in circumstances.

The home was originally listed for $275,000 in July 2016, but after not getting any offers for a month, the seller decreased the price to $250,000.

Buffalo is a fluid market with some places getting hot, overpriced, plateauing, and then decreasing or getting more realistic.

And I buy low so that even if I had to decrease my rent per month $25 or $50 per month I'll still come out ahead.I'm not completely leveraged -- I have a mixture of free and clear, 10 year mortgages, and 30 year mortgages, and one on a 30 year getting paid as if it's a 20 year.

Especially during the pandemic years, more new construction builders entered the market and quality decreased.

I was able to refinance at a $300k valuation but I don't really want to hold these assets.I have the same issue with another 10 unit I own and another 6 unit.You significantly decrease your buyer pool on the exit, in exchange for stronger rental income during the hold.My investment strategy has always been buy, increase property's income, sell for a profit and keep growing but STR/MTR might not be conducive to this strategy. 

I preach to my team the law of diminishing returns.... as you add square footage the dollars per foot decreases.

Unless you are working with a 5+ unit building as a value add deal (decrease expenses, increase CAP, therefore increase value of building), I would be willing to bet that 9 out of 10 times, sub-metering the water on a 4 unit or less in Cincinnati is a bad idea. 

Tech companies, once active leasers, have laid off tens of thousands of workers, leading to decreased demand for office space.Leasing activity has primarily been driven by a preference for premium office buildings with modern amenities, while 60% of available office space in New York is in older, unrenovated buildings.