@Dmitriy Fomichenko, follow-on question on this topic.

However, in areas with little appreciation, all investment capital must come from your savings.Summarizing, a city where you can achieve and sustain financial independence must have the following characteristics:Significant and sustained population growth.A pro-business environment with a metro population >1M.Rapid and sustained appreciation.If a city doesn't meet all these requirements, achieving and maintaining financial independence will be difficult.

Once the property is sold we will be able to pay off the HELOC and will also have further funds coming in the following year.

Will follow this thread. 

I do understand that not partnering pushes back your timeline substantially...I'm in the slow and steady wins the race and stay small, own it all camp, though. 

This is being pushed on out of state investors who don't have a clue what they are signing up for.

Following the team at DealMachine would help also because they are based in Indianapolis.

Your advice about gradually raising rents to minimize turnover is a great tip that I’ll be sure to follow.

Give them a 30-day notice of termination and follow through on it.3.

For example we helped a client acquire a $1.5M oceanfront home that is pushing $180-200K per year and a $875k home (with no water feature) generating $125k gross revenue annually