There are several advantages and disadvantages to consider when purchasing real estate in the city of Lorain, Ohio. Let me provide you with some information.

Advantages:
- Affordable housing prices, compared to other cities in Ohio, which could be interesting if you are on a budget.
- Good location, situated on the shores of Lake Erie, which means there are plenty of outdoor activities and attractions, such as Lakeview Park, Lorain Lighthouse, and Black River Reservation.
- A diverse population, with a mix of different cultures and ethnicities, which can make the city a vibrant place to live.

Disadvantages:
- Crime rate is higher than the national average, especially in certain neighborhoods, which could be a concern for some people.
- Economic development has been slow in the past, which means there may not be as many job opportunities compared to other cities.
- The city's school system does not have a great reputation, which could be an issue for families with school-age children.

It's important to do your own research and due diligence before making any real estate investment. You may also want to speak with a reputable real estate agent who knows the area well and can provide you with more information.