If you are risk adverse real estate, (especially out of state) is not for you.

If you want to be more risk-adverse, then I would find another partner altogether.  

I am a bit risk adverse and don't want that to be my DP $Lastly...

Is anyone else concerned about this over the next 5-15 years, having large adjustments that would adversely affect cash flow? 

If we did something wrong or dropped the ball in an area we are supposed to be "experts" I can only imagine the adverse affects.

Getting a title company (or attorney depending on the state) to check for liens/adverse actions on the property is a must.As to your concern with re-metering the units, maybe get the advice of a General Contractor, Property Manager, and/or check local ordinances to see if its allowed…and if it’s worth it.

It would also include information about anything happening in the neighborhood that could adversely affect our property.3. 

A squatter who has been living on another’s land for three years can file an adverse possession claim if he or she can provide some proof of ownership (such as a title to neighboring property that may overlap with the squatted land).Five years.

Once you become laser focused on your goal you will overcome any adversity that the world can offer.

If you are risk adverse real estate, (especially out of state) is not for you.As for the Cleveland market specifically, check out The Ultimate Guide to Grading Cleveland Neighborhoods.