Your questions and input are helping me solidify my stance as I type.

Same type of mental illness. 

Country subdivisions are cash snow ball type investments.  

Pointing this thread to a common TIN thread; https://www.biggerpockets.com/...

One with 90+ members is great because it affords the HOA a lot of economies of scale with vendors thereby keeping HOA fees lower.Review the HOA financials and make sure they have a substantial reserve that would cover a hail storm deductible and/or other storm damage.Read the Bylaws to make sure they're rentable and check the pet limitations.Check the common grounds for any big ticket items that may need replaced soon.

For investment properties in the lower priced neighborhoods of Linden and Franklinton what type of vacancy rate is typical? 

I look at about 1,000 properties a week and have clients all over the country including Ohio.If you could put your price range, down payment, expected cap rate, tenant type, location such as suburban or urban core, etc. then I could quickly tell you if what you are looking for is a 1 in 100 or a 1 in 5,000 property.

This type of conversion is a great idea.

For example in my market, I work really well with househackers because I have househacked in the past and have grown up in my city - having a common frame of reference is very helpful.Alternatively, if you're unsure of your goals - you should attend a local REI meetup to help get some clarity and possibly recommendations to agents that can help. 

It's really not a con now that I type it out, as a realtor, you have other ways to help them that could be much better than selling to you for investment purposes.