Because I’m unable to obtain an insured title for two years, I did not plan to invest in this property until then for risk of losing my investment.

@David Martoyan, the deal you feel you "need" to do is the deal you will likely lose money on.  

You can make great profits flipping houses, but you can also lose a ton if you don't do it right.That said, I encourage you to be in touch with an investor friendly agent in Indy.

Meanwhile during the eviction period, we finalized our architectural plans and started the permitting process in the county so we didn't lose much time.

Out of state investors can make a ton of money in Cleveland, however, they can also lose a ton of money even easier.

But once you declare to be running a trade or business - then 1099s do come with the territory.If you really want to avoid 1099s and decide to claim to NOT be running a trade or business - be prepared to lose your business overhead deductions upon an IRS audit.

Ohio is a lengthy foreclosure state and many fees not recoverable0% interest and they don’t pay then you are losing money every month as they have no incentive to payLastly having it at 0% and over priced from its value means if they don’t get a tenant then they just walk away as property is so upside down.If it was me as a seller these are awful terms as a seller.  

In 2017 we started our journey with long-term buy-and-hold investment properties in the Memphis, TN area after selling a property that we were losing money on every month in NOVA that we purchased as a primary residence in Jan 2007 (talk about all-time bad timing) and then had to move with the Navy in 2009 (2nd all-time worst timing).

But, I do feel bad for the students, since they are the ones that typically don't have the money to lose, but also get suckered by gurus that they can make hundreds of thousands, if not millions, by investing in real estate.

I am not a huge fan of buying a new car because of the value it loses but I agree with you, you are making money to spend it on something.