But it sounds like it might be a little difficult to cash-flow on the units and can be purely an equity play.

Tenants take on a different mentality than just pure renters; they'll take care of your property better.If they bail, you keep the deposit.

Run your numbers for doing an all cash deal and if you are not getting a pure 10% return on YOUR money I would as an investor RUN in the other direction. 

I have no idea in your area, so purely hypothetical) 4,416 = $39,744 Gross operating income.

So your found an amazing community.We have our own "strategy" we buy higher end homes (both primary turned investments when we are transferred and pure rentals).

I also understand that my only way to get the property back if the buyer stops paying would be to do a foreclosure, but I'm also OK with that, considering that my wife in as attorney and the downpayment of the buyer and whatever monthly payments they made would be pure profit.

You mentioned some crime stats, there is crime everywhere it fluctuates in all areas every year some years more, some years less, I do not know if a single cit yin the country that is immune to crime.Investing is risky no matter SFR, multi-family, commercial, flipping, holding, stock, bonds, IRA - this is the pure nature of investing it is a risk. 

Said another way, at least for the time being, you should look at it as a pure cash flow investment, and even then, go into it with eyes wide open.  

This law couldn't have been tested in the courts yet, so unless the Ohio judges are as brain dead as the real estate commissioners it is pure BS.

It feels to me like buying for pure equity would better suit me after getting a couple of cash-flowing properties in place first, not to mention 155K about 50K over where I'd like to start with this first property.