The biggest problem from a general overview is that drugs are bad in certain areas of Dayton, the I75 & I70 corridor is a huge for transporting them.

Categorizing things so generally may make you miss out on perfectly good deals, or settle on a bad deal because it fit into the "good/recommended" category. 

Sorry to hear about this bad situation.In your shoes I would do nothing that in any way benefited myself. 

In your experience is this many rentals a bad idea?

The property you are talking about is at 0.8% if the expenses are low and you can put 30% it might cash flow , but a bad roi fa sureI am gonna keep looking for another month or so. thanks again 

Also it located in a very bad area so there will be a lot of evictions I am told.

Also, if the main line is bad, its likely a matter of time until the other pipes start to give you issues. 

Is this just a bad time to try to cash out refi?

I'd recommend finding an agent who's familiar with the area and has RE investment experience so he/she can show you where the good deals are (AND where to avoid the bad ones)!

Just to offer you an opposing opinion - driving down the principle and refinancing is putting a lot of your hard earned cash, that could be used for productive assets, into a bad asset.