@Jose Lopez Lucky for you this is a terrible deal otherwise someone woulda swiped it from you now that we all have the address.

While it's terrible that the landlord didn't get paid rental income for several months, what did the PMC get paid?

You can certainly find duplexes in Cleveland for that price, but you'll be buying in a terrible neighborhood.

A terrible tenant had done a lot of damage; I decided to buy the property regardless of whether the seller could get them out.

It was not terrible as the system could still get to 66 F which feels really cold to me.

Putting cash in an IRA isn't a terrible idea because you can pull your initial investment out without fees/penalties.

I have seen the same wholesaler bring amazing deals one week and terrible deals the next week. 

Does this sound like a terrible decision?

However, it's really scary that the local government could just change their rules and turn your property from a great investment to a terrible one.

Reason being is I’m not personally responsible and the plaintiff can’t go after my other properties, personal residence, bank accounts, etc. if I lose the property that’s terrible, but it’s less than everything I own.