So I would spend a little more and try to get into a little better than the worst areas.

Do not make the mistake I did in thinking that Vacasa is in anyway a property management company. 

Huge mistake - almost everything has gone wrong, the Property Manager they set me up with was unable to manage, had to fire them, find a new PM, and more than a few other problems.

It was our fault so it is what it is, but it sucks that an honest mistake that would have been a super tiny inconvenience for the guest ended up being a huge thing for us with a monetary fine and likely lots of money lost in future reservations.  

I prefer Airbnb but worst case scenario I could always long term I suppose. 

I wouldn't buy in hilltop and whoever is putting you there I'd love to know. it's one of the worst zips in central ohio and maybe one of the last to find existing inventory hence why the realtors sell it.

If solid comps are showing 120k, you should be good, "if" you have solid rehab numbers.When I run numbers for a flip, I take the worst case scenario on everything, then if I still have 20k profit(after commissions, holding costs, insurance, closing assistance) I will proceed. 

Worst house in neighborhood.

First of all, meeting with the listing agent unrepresented is a mistake!

Would it be a mistake to not take advantage of the low money down loans for a first time home buyers primary residence, and instead attempt to invest out of state in a traditional investment property?