:) Well, if the planes take off and land from east to west, buying a home that is north or south is not directly in the flight path. 

Death, divorce, fire, home sale, floods,layoffs, etc.

Consider single-family homes or small multi-units to learn the ropes.

So I bought a single family home for 315k that was considered inhabitable.

This allows you to participate from the comfort of your own home while still networking and learning.

"Do I need to buy it as a second home"?

We specialize in managing single-family and multi-family homes, with a portfolio that includes properties in the Indianapolis market.

I would like to start close to home as I plan to self manage the rental side of it.

Licensed with permits ~$3,250.HWT standard gas single family low efficiency without exhaust retrofit $900.Sand and stain hardwood floors, natural stain $3 per sf.Paint interior walls, ceiling trim and doors 3 tone paint scheme 2 coats $3.20 per sf (floor area cost includes paint)Click lock LVT flooring install overlay inclusive of prep and quarter round $4.50 per sf (materials and labor)Asphalt roof installation 3/1 - 800 sf bungalow with 2 layers of shingles - ~$7,900Standard porch cap replacement with 2 new precast concrete steps ~$2,500Used stove or refrigerator delivery and install $350New stove or refrigerator delivery and install $HD model specificUse this as a general guideline. 

You will probably run into some issues and need to budget for that.You budgeted 5k for unforeseen expenses on a 4000sft home.