You can see some basic info here  - http://inspectapedia.com/structure/Concrete_Settlement_vs_Frost_Heave.phpBUT, the best way to truly know what ails the property is to get a qualified inspector to that property and have a look. 

Its a place where you as a real estate investor can go to find endless information and encouragement.It is now 2014 and the real estate market is slowly but surely healing.

My advice would be to hire/partner with someone who knows building/construction so you don't end up head-over-heals. 

Hiring a GC, and payout when complete, every step of the way, is how you should do your next flip.Bottom line, is that you now know what happens without permits being closed, and a punch list being satisfied before payment.You are smarter now.When the bruises heal, your next flip will go better!

B - let time heal the wounds.If you cannot work out the SUB 2 then the partner idea sounds like a winner to me! 

I don't know what's wrong with your credit, but time heals bad credit along with some strategically paid bills. 

You need an Indiana lawyer to meet him face to face and put the squeeze into him.He is not following the rules of the contract and must be made to heal like a dog.Don't be afraid of litigation,that is what he is counting on.He will probably crumble when he sees a pit bull of a lawyer in his face demanding documents and threatening lawsuits for fraud and maybe theft of materials.

However the most important thing would for me to be able to have is the time & flexibility to jump on a flight and catch a game 7 of the finals, take a very spontaneous vacation, or visit an ailing loved on in the hospital.

Many wounds are going to have to heal before normalcy returns.

People came from far and wide to bath in the supposedly healing spring water.