More important than identifying target areas is establishing relationship with a local investor-friendly professional who has personal experience in investing in Cleveland.

I personally concur .. they charge 6k to join the club they bring in folks who have no experience and set them lose.. with so called training..

But I would remain open to long-term rental as an option as this seems like a more stable option in terms of income, again this may be my inexperience talking.However, I have always  been somewhat risk averse and investing in real estate is always a big venture, in my opinion/experience, in terms of capital.

In my experience apt. conversions from single family are more prone to noise transmission. 

Quote from @Zack Marshall: Quote from @Tyler Tyson: I had a very poor experience with them last year.

Questions they will have is who is the owner, what experience do they have, is their key person insurance against them etc. 

Does my experience resonate with yours?

I believe this is more geared for the tenant but it shows where properties have "experience" with S8 tenants.

Ultimately, every applicant is a risk in one was or another, no one is 100% guaranteed or qualified, you could have the best applicant on paper screw you over, or even pass away, you just need to do research and use common sense in my experience.

As far as the noise goes, I can tell you from experience that being an entrepreneur in any form can be a very lonely place.