The couple hundred you're going to spend can save you money, time, and trouble.

The most important factor is where you spend most of your time, but the other factors that are relevant include addresses on documents and proximity to various venues/people.

My question is should I continue renting and spend my 40K savings on a down payment for a quad somewhere like Cincinnati or use my money to purchase my first home, just to get out of renting?

Our biggest motivation is to be able to spend more time with our kids and to stop spending so much time commuting every day. 

I'm wondering, however, if that's my best first move, or if it makes more sense to keep renting and spend my $40K savings on a deposit for a triplex or quad in a place like Cincinnati where it's much more affordable and up-and-coming? 

Spend some time - find some mentors - buy a few coffees and get really comfortable that you know all of the hidden dangers to the investment you want to make and then, pull the trigger.  

It seems that I am spend so much time with people I would not accept because they will drive me nuts! 

Like I have seen in my country the youth are willing to spend their money on buying property than the older generation because they're more educated.

Spending even one minute stressing about this kind of thing isn’t worth it.

Zillow rent estimate shows this place at $850/month.Someone will buy the house and spend $15K to fix up the place.