Also, research other areas where you can invest as a private money lender (fix and flip is just one option)... 

Using a HELOC for the down payment on the second home might be an option, but lenders may require you to wait a few months post-closing on the multi-family before approving new loans.The BRRRR-style approach could work if you can renovate and refinance quickly, but make sure the timeline aligns with your lender’s requirements.

I was originally drawn to it because I wanted to have one place where all my tenants paid rent and where they had the option to set up auto payments. 

Once they are leased, then you can take over from there.There are several software options if you want to self manage.

I give them a deadline to respond, very clear terms of how we will move forward with the option they choose, and I make it clear this is my final offer.

You could structure the deal as an installment sale or a lease option so the property owner doesn't see a large capital gain tax payment for the sale.And good on you for helping out!

After 45 + years as a real estate investor, broker, lender, fund manager and syndicator, I’ve become aware that the “dream” of many investors and investor “hopefuls” is to be able to generate enough cash flow to live off their real estate holdings and accumulate enough wealth to make “work” optional.

The increasing barrier to entry results in fewer new STR's coming available for sale, but also fewer options for guests to rent. 

@Karen WanamartaThe zoning is R2, which includes a wide variety of options that includes multifamily, which is defined in the general plan below in this excerpt. 

If you're open to expanding your options, you may want to check the Columbus OH market.