If you are even reasonably savvy with technology and you start with a good property to begin with, assuming you're in any kind of reasonably healthy economic area, managing is a serious low-hour endeavor.

We are looking to move to a warmer location for health reasons / future family planning, change of scenery etc.

Cleveland is home to Global Center for Health and Innovation, which is very large in the health care perspective.

You'll want to know if the land is in a flood plain.Since it's septic, you'll need to ask whoever has juridiciton for that, probably the City or County Health Dept, what is req'd for soil testing and how many square feet is needed for the field bed portion of the system.

If it doesn't make economic sense, then decide how much you need to tell the tenant. $20 per month isn't much, so you can be straight forward about it and say that you build it into the rent. 

-Create specific investment parameters and underwriting criteria- Do you know that everyone in the partnership is able to withstand personal economic downturns or will they need to pull their money out should they or a spouse lose their job? 

Is it a lower socio-economic area?

Any tips to make the economics better or things I should be aware of?

I am sure he has some sort of mental health issue, maybe schizophrenia or he is disillusional.

Columbus already has the headquarters of national brands like Nationwide, Cardinal Health, Big Lots, L Brands, CoverMyMeds, Wendy's, just to name a few.