I have family there, another motive for a possible move.  

You don't want a NICHE - you want DEALS - i.e., motivated sellers willing to sell at a discount.  

You have just found a motivated seller, my friend (:The best way to answer those questions however is through communications with the owner.

Sister does want to lower price, I think it will get more people who have some sort of voucher, most of them for a 2 BR seem to be around $1600, but lead paint is an issue, we state that upfront and they still ask "is there lead paint?"

You are looking for motivated sellers that might be flexible on their price.

Might it not be a good time to sell anyway (down-size, buy a relative dump or those sort of options)?

But I'm motivated to help turn around the Rust Belt and still make a profit... audience?

Banks are motivated sellers too.

Us late starters, I believe, are more motivated than many of the youngsters out there because the clock is a tickin'.  

Since those have to be owner-occupied if you want those sorts of down payments.