There are a lot of ways to crash and burn, so increasing the odds of succeeding long term should be your highest priority. you can always sell your local assets once you're comfortable managing rentals and ready for a market that better-suits your criteria. btw, kudos for being self-aware of your limitations.

I own 4 two/three flats bought between 2013 and 2020 in Forest Park, Illinois, at low interest rates and prices in 200000's  They cash flow nicely and prices have increased a lot. 

What is your Annual Rental Rate Increase look like?

I'll focus on maintaining the property and optimizing rent increases to ensure consistent returns over the years.

Your returns could be increased if you are willing to rent it by the room to individual students. 

And during inflationary times rental rates increase.

After you've completed some updates & have reviews start to increase your rate.Feel free to reach out anytime if you have questions :)

I recognize this is not the sole source of return, but the other sources have their return increase with smaller equity position. 

You can earn strong appreciation but also lose a lot as the entire state becomes increasingly hostile to landlords.

This was in a middle class neighborhood and I get why that is less risk however with apartments increasingly including laundry, I would imagine demand lessening in that location.