Estimate utilities and figure out who pays them (separate meters, landlord paid, etc)5.

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

The more you pay down the more you own the asset like buying stock in a company, BUT your property COULD go down in value!

Would you be willing to describe a bit more about how you determined your utility caps? 

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.).

Does the operational company already exist and have income history?

Just because the costs might be in the furture does not warrant not budgeting for those known expensesThen there is the misc costs of asset protection, bookkeeping, unexpected utilities (such as between tenants (tenant turn over) or failure not attributable to the tenant such as slab leak).  

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?

Suncoast is a very big company.