At least of what comes on market, every listing is negative cash flow and competition is simply betting on appreciation.

In fact, things like smaller stoves & water heaters are more expensive than full-sized if you need them.2.

Depending on the size of the community you may be able to work with them if it isn't going to hurt them on the OO versus Investor ratio for financing.  

I'm not going to poo poo something I've never done.... but my bet is you'd get more out of going to the @Joe Fairless meet up the last tuesday of every month in Cincy... or your own local meetup. 

You’re best bet is to work with your cpa to make the transfer and your attorney to draw the recourse / 1st position papers for your relatives.

The seller can grant you permission to submit plans for approval so you don't have to close on the property to go through the entitlement process (see what I mean--I bet the county didn't tell you that--they give out bad info all the time). 

BUT, The properties there haven’t appreciated much over the past 20 years I’m just curious what’s the better bet for us just getting started?

Got to think there are safer bets out there.. and it really depends on your financial situation and your stress meter some folks would stress out and lose sleep, others this is just water off a ducks back.. 

What size of units, 1 or 2 bedroom units? 

Even if it looks good today make like some areas around Columbus, Cinncy or Cleveland make sure to consider how recession proof it is.Also, 64 units is a very awkward size.