The property was rented and generated $160 cash flow after mortgage, taxes, insurance and property management fees were paid.

Most places in Ohio can be profitable rentals... if you can stomach those property taxes!

One caution when using crypto to acquire property is being aware the tax ramifications are identical to if you converted to cash first.

If you need an LLC for tax reasons later, you can move title into an LLC later for a couple hundred bucks.

The 1031 exchange rule to defer your tax is two part 1) reinvest all your proceeds and 2) purchase a property (or properties / DSTs/TICs) with an equal or greater market value.  

You also don't have to pay state tax on income. 

Check with your municipality about how property taxes will change when you buy the place.

Keep in mind that you get to depreciate these appliances on your taxes.

An annual business tax as a hotel of $50 and collection and remittance of transient occupancy tax of 12% from renters is required of all short-term vacation rental operators.

I agree with the others here that say you need to have some skin in the game, if you are going to live there yourself, get an FHA loan rather than owner financing, you can get a 3.5% down loan, personally I do not love these as they require  PMI which is an additional expense, and you also need  bring additional funds for closing at least for taxes, title, attorney and transfer fees . borrowing from anyone else for the down payment, to include a personal loan from the bank is not a good idea, those again will be higher int. rate.