I've used this strategy in a similiar situation wherein the repairs needed to the property were made part of the agreement and the tenant buyer took possession with repairs needed and fixed the property to livable condition.Also in the scenario I received $5.5K down payment on a 3 year term $1200 per month and P/I cost me $550 and I paid taxes and insurance. 

Buy the worst property in the best location you can afford, fix it up to the quality of the surrounding properties, and you can force a lot of appreciation quickly that way.

I have two properties with MSHB and plan to keep using them in the future. 

Property is 4/2, 2000sq ft.

All you care is your house will be 40% cheaper, your insurance, gas, property insurance the same.

Columbus is the perfect case study:Most investment properties sold here were built in 1900-1950.

As owner of the property you would have a lot more options than just hoping you could exercise an option three years down the line.

Are you local to the property?

I've just purchased my first property, and I have a question for Ohio state long term rental properties.

One of the factors that I look at for listed on market properties is Days on Market (DOM) and properties that have had price reductions, sometimes multiple price reductions.