I would get an attorney or title company involved to create your loan documents to ensure they comply with the law and cover all the aspects you need.Another method that is likely your best bet to take on investors is to create a joint venture (JV).

It'll likely take a month or two assuming that the loan is with one of the large servicing companies that move at a glacial pace. 

I've worked for Superstar Car Wash, Circle K, and The Carioca Company. 

Right now I use school ranking as a means of inferring neighborhood quality.

My retirement system doesn't allow for me to roll anything over given that I'm still employed with the company and also under 59.5 years old.

I used to work with a property management company that managed 30+ STR's.

We have an insurance policy on the rental house (through State Farm), that includes a personal liability section, which is essentially equal to our current net worth.Given that a tenant could sue for more than this if an accident occurred, we are thinking about adding either LLC or an umbrella policy (or both) as extra protection.Any advice on which way to go, and if LLC, any recommendations for a law firm or company the Indianapolis area?

The specific assistance organization, the screening of the tenant, the property, and the PM company that should be communicating with the tenant all play a role in the success of your investment in regards to tenants.

Anything beyond that is going to take some blocking and tackling (reaching out directly to local companies like solar farms, construction, medical staffing agencies, etc.).

Short Sales, Bank Owned, $/sqft, school district, days on market, etc.