If you experienced monthly losses, (about $1k), and live in it for 1 year to qualify the property as my primary residence, is it worth it?

When you do close on a property, right away get an insurance policy that will protect you against most losses.  

Someone with millions of dollars in the bank can sustain a total loss on one investment without it materially changing their life for the worst.

Since it seems like the seller obviously knew about this and never disclosed it - and the seller's agent at the very best was ignorant about it - does it make sense to sue to recoup these losses? 

We had to get the food out of the house first and had no way to separate it (no containers and no rooms by the road for separate piles).

There is a Meijer and strip mall with good restaurants and businesses nearby including a Whole Foods that helps garner renters, owners to the area.

Every bad deal will compound your move from achieving your goal (if loss of value/negative cash flow).  

Moreover, if a bank would ever agree to your idea, the result would openly and clearly be considered a loss to the bank.

@Christopher Smith,Group properties in LLCs so as to limit your losses in the event of successful litigation against you.

We have done a tremendous amount of research to date, but are hoping to find some folks who are already succeeding to lend us some wisdom in exchange for shameless food based bribery.We have a solid background in property rehab and estimating and one of us knows a little about the law, but we could really use some advice from those of you who were actually able to stop researching - and start investing.Are there any investor-friendly agents or investing pro's out there who would be willing to set up some time to chat?