I'd like to invest back home in Ohio eventually (I lived in both Columbus and Dayton for about 5 years each), but I'm much more comfortable starting with something I can see regularly. 

Ive gotten robbed walking home from school there.

House is rented as a residential care home.

When you turn a personal residence into a rental, you want to make sure you calculate your basis properly.Your basis will be purchase price + improvements made to the house since time of purchase(Assuming the FMV at time of conversion is atleast this amount).Best of luck!

After using the property as a for-rent vacation home for two years, the owner converts it to a principal residence.

One more tip – people remember stories that trigger their emotions.

Is it worth it and are there any helpful tips you can share for getting started?

The home has been sold 4 times prior built in 2003.What should we do at this point?

Let's say the home is listed at $500k for easy math and homes newly renovated are worth $800k. 

OR Should I buy 4-5 single family homes instead?