The solution could be a creative financing solution such as a total or partial private note, an assumption of the note or LLC, a speciality or local lender, or any combination thereof. 

I have been trying to get a distressed/value add LTR property under contract in my local market for some time now.

Local real estate agent.

Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area.

Quote from @Carlos Rodriguez: Hi Everyone, my name is Carlos I’m from Toronto, Canada.

If you don't fall within that category a knowledgeable local real estate agent can be an excellent resource.

Namely, that if a tenant (in this case accompanied by a whole family) ends up stop paying rent and I would be on the hook for both covering the mortgage and dealing with open ended legal costs and time.

I'm a lender local here to Cleveland right downtown and know the market very well.  

So many variables can turn a deal sideways from 1 hour to the next - i.e. inspection findings, title issues, contracts, financing issues, taxes, dept. of buildings/local municipalities, etc.I'm glad to hear you made it through the challenges, and it sounds like you'll be able to leverage this experience as you grow your portfolio.All the best to you along your journey!

Since you're still living in the property, you might be able to house hack and keep the lower owner-occupied tax rate—worth confirming with a local tax advisor.