He would like 20% down amortized over 15 yrs at 4%.

The town used to be huge in manufacturing, but over the last 15-20 yrs a lot have closed down and theres been a boom in healthcare jobs with a large healthcare system (ProMedica) moving in and taking over the hospital, doctors offices, etc.

As we've talked with the current HOA attorney for the current ownership group, they've never had a decision over turned in the past 12 yrs.

Some parts are 5 yrs, others are 15 yrs.

Good news is the house has never flooded in the over 100 yrs it’s been standing.

I started making an inquiry of an off market property and found a new/different opportunity from the same seller and am looking for some thoughts.Basically I’m considering buying a SFH that’s currently a rental, moving my family and I into it for 1-2 yrs, then holding onto it and rent it out.

The question would be: would hard money lenders give long term financing like 20-30 yrs?

This property sat empty for 4 yrs. 

I'm certain.  2 yrs ago also sorts of bad reports and complaints seen in the 1st page of a google search. 

Not much you can do for the water infiltration/sewer back up issue; I would say it happens every 8-10 yrs in Euclid (Euclid is close to Lake Erie where all higher elevation suburbs' storm run-off have to go thru city's sewer system; if your property is north of I-90 then you are at risk).