However, purchasing a home is obviously attractive for people who want to save money and build equity and may not have the financial sophistication to feel comfortable doing otherwise.

To be clear, I am comfortable in making the payment, but am looking to make myself more attractive to lenders sooner as opposed to later.

You have to make sure it’s a safe investment for you and make sure you incorporate what they are attracted to in the offer.  

That is attracting corporations of all sizes to build/grow here, and industry professionals looking to not only buy but rent in Pittsburgh.

Obviously, I don't know your deal so 12% pref might work if you confident you are hitting 20%IRR and you need a big pref as a carrot to attract equity.

If it is surrounded by a terrible neighborhood it will attract bad tenants.

This is also not the first time you will open up your wallet to pay for services. 

Bad tenants (work really hard at not having any or getting rid of)Bad vendors (Easy to deal with, don't use again)Bad owners (Cheap, won't take care of property, which then attracts bad tenants and bad vendors)The key word is "bad". 

However rent yields are v highI preffe the neighbouring Kingston and Forty Fort that are much nicer and attract better tenants even if the property value is higher.

I guess this makes commercial rentals more attractive.