Agree with other posters that if you have lost trust in this contractor, even if cost more, you need to cut your losses and find a new one.As to what to do with the existing contact; depends on a number of different factors having to do with the size of the contractor, how big the contract is and emotionally just how upset you are about things.If this is a small contractor then there are likely few if any assets in his company and it is generally very easy to shutdown one LLC and start another one with a similar name so suing them is just a money pit; its not fair but very common.

There might be a seasoning period to refinance the property of 6 months or less depending on who you refinance with. 

I'm actually better to correspond with via email, but it will depend on my current workload on how much help I can provide.Also, if you are on Facebook, there is an Indianapolis Out of State Investors group that you may find helpful.https://www.facebook.com/groups/260862967817696/Most the members there are on BP, but it's specific to Indianapolis.

It kinda depends. 

.$15k may be a wholesale price OR an overvalued retail price, all depends on the location and condition.I just had an investor contact me to see if I wanted a 3 bedroom house for $1 with $2000 back taxes...the place is truly a toss up.

how much cash flow would a property need- Depends on you, the number has to be over your PITI + vacancies + CAPEX + repairs + other potential costs you can projectWorst case scenario, how low would rent get?

That said, as someone who has done a few OF deals, the docs your attorney/title company will suggest you use depends on the type of owner financing: generic owner financing, land contract, lease purchase, etc. 

I may depend on the amount of equity you have, I only did it with properties that I held 100% equity.

Optimal may depend on your area.

@Cole Cherryholmes it depends on what your goals are.