I can't find the exact page right now, but I've got a book that discusses messing with pH. In some cases, such as Africans Cichlids when you've got 5.5 tap water, it's necessary. It might actually be necessary with your otos.
The thing you've got to remember is that every single
water change will need to be filtered through a peat pillow (or treated in some way with peat) in order to keep the pH stable.
What you could do to slowly adjust your fish would be to begin by only treating water during water changes, and doing a large number of small changes over a couple of weeks. Maybe 10% every other day (or better, 5% every day, if you can commit to that) until the water gets pretty close to the pH of the treated water.