I have had a tarp put in place to stop the moisture from getting in.  

I would suggest a newer build [1998-up] like a subdivision "vinyl village" home to purchase.These will cost a little more than an older home with the same rent but are much newer, typically on a slab [no moisture issues to deal with] and are easy to rent and/or sell in the future.One downside of this type of home is that most good markets [Indianapolis included] have been invaded by the Wall Street Hedge Funds and they have or are buying up this product at record rates.

We would have noticed how bad the moisture damage was right from the get-go.

But after watching developers in Nashville attempt to develop every other lot in the city before penetrating TSU’s neighborhoods (another HBCU), I would caution that it could take longer than you think.

This is a problem created by them so they are responsible for repairing it.Mold requires moisture and a food source (dust).

Mold is an indication of moisture and if you don't figure out where that's coming from and correct it then the mold will be an ongoing problem.  

I'd just be concerned because it says moisture resistant but not waterproof -- hard to argue against your soaking experiment though. 

It would need to be a flow indicator type - the moisture sensor version would be useless in this application as @JD Martin pointed out. 

Given the fact that it has been almost 10 months since the water overflow issue, I can't imagine the bowing of the floor and the spots on the vent cover are from the moisture back then.

We got the cork backed fancy NuCore with 6-mil top layer (waterproof and lifetime warranty for residential and 15 year for commercial) for $2.89/square ft -- that just needs a moisture underlayment @$.11/ square ft over a concrete subfloor and doesn't need anything over tile or any other kind of subfloor.