Outside of my mortgage - principal and interest -, here are my expenses factored monthly:Insurance: 300Taxes: 410HOA: 51Water: 55Electric: 300Lawn care: 100Pool & caretaker fee: 220Internet & TV: 100Pest control: 25STR state license: 15That's $1500 or so right there.

Condos put's a layer of management between you and complete control of your property.  

I think you are at a negotiation disadvantage as the units are rent controlled.

You want as much non-passive income as possible, despite what all these REI folks state.The reality is passive income is usually linked with no control, and for that you to need to be careful how you marry yourself. 

You have $1.5+ million home and you're paying $2000 property tax a year, probably a paid off mortgage  if you bought in 1970 for example, and can charge market rate rent (multi units are under rent control with existing tenants, generally speaking, but not SFHs so far) Be really careful with whoever gives you numbers on a spreadsheet whether it's a turnkey company, agent etc. 

From identifying lucrative properties to mastering renovation techniques and negotiation skills, this program covers it all with clarity and precision.

Faster evictions, relaxed rent control, and a short-term rental friendly environment all contribute to potentially higher cash flow.

With Tom controlling the escrow and our funds this should allow those in the business to just alter their business model accordingly and still be able to make money on these deals.  

I wanted to see if there was anyone local to Purdue University that is involved buying or selling real estate.I am an electrician with backgrounds in mechanics and control systems(more information in my profile) and id be more than happy to share my skills in return for mentorship or just to network.Otherwise I was wondering if there are investors in this area (Tippacanoe and surrounding) that could shed some light on this area regarding how difficult it may be or areas to stay away from. 

The issue is a lack of control over anything going on with the mortgage and anything associated with it.