WF is notorious for dragging their feet and messing up loans....You have so much profit in this hard money might make more sense simply based on the speed you can do it in. 

If there are mortgage loans, the lenders are notorious for paying them off day of or day before the sale.   

Home owners are notorious for cutting corners.  

They are notoriously inaccurate.Go on VRBO and search for properties very similar to yours and look at different dates to get a solid idea of the real income possible.I like your plan to rinse and repeat.

Cincinnati is notoriously expensive to fly into.  

Something like this might not fly legally- most states require that you give the tenant at least 24 hours notice and when landlords include clauses in their leases that contradict state law, judges usually don't side with them- and you are in a notoriously tenant friendly state. 

The tenants possession of the property is not 'open and notorious' they are in possession subject to a lease so they cannot make any AP claim at this point at all.

Humans are notorious for underestimating our abilities.

Notorious. 

Stone basements are notorious for leaking, worse than concrete.