Downsizing will not translate directly to rentals but if it does it will most likely be to conventional apartment complexes not SFHs or small multi plex buildings.

However, I'm not sure how that translates when a third party comes into a rental home.

If the lease do not say it, then it falls back on the landlord...HOWEVER....here's what I would do to get them consider doing the right thing: Tell my tenant that the extra cost due to their unwillingness to upkeep the property will increase your operational cost and that will translate to increase in rent come lease renewal. 

I've read a lot of info, watched a lot of video, been to several seminars,  but I'm not really able to translate all this info from theory to practice yet.

If it's refinanced for $30, it translates to over $60k per door, which is extremely high for Indy market in my opinion.

And that translates to a bit higher rent and being quicker to rent.As for washer and dryer, I wouldn't.  

Some old classics may not be in kindle, but getting more rare.. but some fairly good selling books from the 1980s or 1990's that are out of print may or may not be in kindle...Also, nothing easier if you are on the phone or online and need to grab a reference from the shelf than an old fashion paper book in hand (no dead batteries, no scrolling,)....Also, easier to loan or give away...A few may have forms (like legal forms) or drawings that may or may not translate well .

My wife and I would like to purchase a home, that's 1500+ sq ft, that we can rent when we leave but we're worried that there won't be much in our price range, keeping our monthly payment under $2500 including morgage, insurance, and taxes which I believe translates to about $400,000?

The property will be financed as a commercial straight note for the next 2-years with a corresponding 2-year lease with the couple and purchase option contract at our current asking price, so the principal payments don't necessarily translate here.The tenants will be responsible for routine maintenance, landscaping, snow removal, etc. 

Below are the details:A typical lender might say:I will loan 60% of ARV (appraised repaired value), with 5 points, 500 in document fees and a 6 month interest only balloon payment loan at 10%.To translate on a deal that appraises at $200,000:They will loan you up to 60% ($120,000).