That would certainly provide added leverage should problems arise with bookkeeping, receipts, estimates, etc.

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My strategy is to hold it long-term, leveraging the steady rental income while benefiting from potential appreciation.

Do you have any equity in you existing home (if you own it) so you can leverage a HELOC to use as an emergency fund?

For example, I will tell them they must be out within 30 days, but they can leave at any time during that 30 days without just one week of notice.If they reject my offer, then I start to ramp up the leverage.

It may make the most sense to focus on home 1 and then leverage the funds from that sale to complete house number 2 and purchase more projects. 

But if you buy 0% leveraged then you can cashflow and its all profit.

BUT...if you're American and can still get loans in the US (the silver lining of having to still file US income taxes while living abroad), then why not use leverage?   

While they cash flow, we've realized we're over-leveraged and want to take a different approach.Our plan is to purchase our first investment property in Indiana, possibly paying cash, with the goal of generating reliable income.

I'm not sure what leverage you would have outside of taking legal action, these are generally things that should all have been on the closing statment along with deposits etc.