Are there any other ways to reduce the risk of keeping multi unit properties under my personal name?

But as a first time buyer, it seems the risk would be significantly reduced. 

So if you get prequalified for 80% LTV.....but your property needs 85% LTV to BUY and REHAB....and you want to keep your out of pocket at $0....then maybe we should reduce our initial offer by 5% so you BUY and REHAB at 80%. 

I am no longer able to vend so my business has been reduced by 60%.

City-data.com will show similar stats, and show crime heat maps, so you can stay out of the hood. 

So similar to the turnover costs, it depends where you take the expense but if taking it in vacancy then that would result in increased vacancy cost, but reduced PM costs. 

It sounds like the numbers work as it cashflows if you don't live in it and you are reducing your current rental expenses.

The seller originally listed for $795k but has reduced 4 times in past 90 days to $685k.

I know the clawbacks are possible but try and reduce the risk with good tenant screening. 

Best way to get equity and gain experience is to buy an owner occupied multi where you can leverage your money, reduce expenses, and build equity.