I hope you enjoy small towns that lack diversity.I am sure Dayton has some real estate meetups.

Currently I have about $1M sunk into a previous business venture, so I expected I would have to pull some equity out but wanted to explore all options first. 

Best call the town's rent control office and make a general inquiry to confirm. 

I have enough for 25% down on a smaller investment property in another town 1-2 hours away from me.

Luckily both sites collect the taxes for our place.Our little town did implement a 1% tax that I have to pay separately.

I'm in a small town with nobody to really network with on a regular basis.

Let me know if you'd like to explore this further!

I totally get where you're coming from—finding deals that pencil here in the Portland/Beaverton area is tough, especially with the high cost of living and interest rates.One approach that’s been working for some investors locally is exploring opportunities with mid-term rentals (MTRs) or hybrid MTR/STR setups.

Based on a gut check (checking the town population + location on google maps), this may be the case. 

Quote from @Ben Trageser: I would recommend calling the zoning department of the town and asking.