I have a friend/neighbor that wants to sell me his house below market value so he can move back into an apartment and travel.

This is such an easy way to stand out against the competition in your market.

Quote from @Kaleb Johnson: The issue is that you cant cold call people in New York  You cant cold call but you can definitely do SMS marketing and find your ideal sellers for wholesaling.

But to date, I've just set my rents at a rate that accounts for me having to pay the water bill - and informed the residents that each year I'll increase the rent based upon my expenses (including water), so keeping the bill down helps me to help them.But one problem this could cause is if increasing the rent to cover the water bill then places your rent above the market rate.

In some areas, we board up the 1st floor windows until we are about to start marketing the property.

Since you're focusing on Dayton and Cincinnati, you'll find plenty of opportunities in those markets.

If so, I would appreciate hearing your thoughts and experiences regarding the local market, investment opportunities, and overall outlook for the area

When I say education, I mean real education (not formal or higher education) but more like hands on business experience, sales, marketing, or agriculture as you mentioned. 

For multifamily, target markets with strong rental demand, value-add opportunities, and creative financing options like seller financing or private capital.

If Union City’s numbers don’t work, out-of-state rentals in more affordable markets might offer better cash flow.Good luck!