The moral of the story is BUY IT RIGHT!

I don’t really find it to be an issue of morality because you aren’t tricking anyone into living there and some people may feel the headache is worth it...but yes, higher cash flow usually comes with bigger risk.  

@Jay Hinrichs we're obviously on different playing fields, as this is just your everyday $90,000 single family in NE Indiana that will rent for $1,200, but the moral of the story stays the same.

In my opinion if I did something that caused legitimate harm to someone else then I would be at the very least morally obligated to make the situation 'right'. 

Much higher rent and moral in building with existing tenant Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Moral outrage and righteous indignation is little more than a waste of time and energy.Organising independent landlords is a waste of time.

That debt will be settled out of my own pocket after closing.The moral of the story is to find a competent attorney that understands what you are trying to be do, so that all of the proper documentation can be created and filed. 

People can make money and be successful and avoid morally questionable business practices.

Great story, and a moral to boot! 

The moral of the story is it not anywhere close to being simple eviction across the board.