@Mike EvatzHi Mike - I originally grew up on the south side of Youngstown, so Canfield is like the beautiful suburbs as far as I'm concerned ;) I agree with you long term views for the area, I got out as soon as I could at 21, as I felt that the area itself is in a steady state of decay.

And more often than not its an older person, retiring who wants the steady check, doesnt need all the cash at once and is getting out of the investing game.look for grandma with a decaying apt building. shes your best bet.

I work in the public sector generally and don't make enough to counteract the federal debt to income percentage.I have not been able to save any money for a down payment due to trying to pay down my student loan.I have recently inherited a small amount of money enough for a down payment on a property (hopefully). 

Many need a lot of work, and are in areas that have suffered from urban decay.

Simply not enough margin to carry an old decaying assets and tenants that don't care.

You are making the case that requiring this would cause the property to continue to decay since no one will be able to take on the task that the City is trying to require.You'll probably have to end up getting them both to be on board with keeping the nonconforming use, but if you can get one then they can become your advocate for what you want to do.

In the meantime, start making good financial decisions to counteract the negative. 

One owner was in a nursing home for over 10 years, the place noticeably decayed and scammers managed to get a $200K HELOC on it, cashed out and skipped town.

This seems kind of counteractive for them to get paid to try to fill the room and then get paid if they don't fill the room and I get no rent from it, while it is 1 less room with a tenant that they have to manage.  

That could counteract purchasing a more moderately-priced property.