Yes they are buying old homes to tear down to build there now.

In Franklinton there are plenty of large projects going on that will bring massive growth to the west side of Columbus, such as the Peninsula Development, which is a multiphase project that will erect a 24 story apartment complex featuring a grocery store, a multi use office space building, and a new hotel featuring a two-story venue. 

I think you need to treat those 2-4 buildings almost like larger building looking for upside in rents and/or reductions in expenses in order to get it to cash flow.

Building a 4,000-square-foot, three-story duplex with a 1,000-square-foot ADU could cost about $1.83 million, including construction and permits (excluding land).

Build your network by joining local real estate investor meetups or online communities like BiggerPockets.

Like SWFLA  new builds  at the time I was buying for 25 to 35k at courhouse and Atlanta until the hedge funds came in and kicked us little guys to the curb. !!

.🔹 Ideal in Any Market – Whether home prices are rising or falling, lease options allow you to lock in today’s price while benefiting from future appreciation.Other creative strategies—like seller financing, subject-to deals, and the BRRRR method—can also open doors, but lease options remain one of the most powerful, low-risk, minimal cash out-of-pocket ways to build a portfolio.

Another strategy you can look into is building out an "in-law suite" or ADU.

I am a blue collar guy through and through so even though I'm now a realtor, I can never set my toolbelt down for very long before I'm needing to demo, build, and create once again.

Usually the numbers don't work to build in these neighborhoods, unless government tax credits, etc.Do you see the problem with your two statements:"The turnover costs could/will be high"and"How much more damage could they do?"