I will definitely take that good advice under consideration.

How do I find out the local average wage, whether there is a rise in job opportunities in the area, whether the tenants will be good, ect?

Getting that price down is always going to be your big money maker, ahead of every other consideration.

There always things beyond your control... but you will rise above it.

In my experience a HELOC will have a lower rate too but as you said, there is the risk of rising rates.

We do recommend Foremost as well, especially for vacant insurance during renovations, but USAA has been amazing with claims -- 2 houses struck by lightning, one took almost half the house before the fire department came, and they did not drop us nor did our rates rise significantly. 

The sun will rise eventually, keep your head up. 

I will say that Aviston is my personal residence after I did due diligence in 2010; it's a fast-growing small town with a rising median income and a lot of development with a great school district (the elementary school is quite new and well-regarded).

But can tell you that prices have also been rising in that area as long as you stay North of Lorain Avenue.Clark/Fulton is more of a risky bet.

Sometimes i run into people who claim a positive cash flow but invariably when i get the details it is because they are not taking into consideration the value of the current value of the home or their down payment etc  BUT with some of the appreciation rates there has been a lot of money can be made with buy and hold..at least if you had bought 4 years ago.