Assuming you have no pressing liquidity concerns and have a stable household income, I would prefer to buy houses in middle-to-upper middle parts of the metroplex.

If the town presses the point, you will be forced to evict the illegal tenant, possibly have to pay back rent to them, and have lots of other potential problems.Unless you can get (somehow) the proper c/o documentation, I'd walk. 

He also immediately stated that he will press charges if I defame him?

@Ron Sohn I think you'll be hard pressed to find a multi family in a B class area in Indy. 

The best course of action might be to encourage your tenant to press charges if that is an option. 

You'd be hard pressed to find anyone that will tell you that having an education is a waste of time. 

I would call, be extremely brief, explain you'll be following up with an email shortly, say goodbye, and then press send.

This way you have an LLC with the taxation of an S corp.NOLO Press has very good website and books on entities and how to run and form them.

Since I work downtown I want to keep the commute as short as possible as I was commuting 3 hours a day for 2 and half years at my previous employer.I don't have much capital so i'm hard pressed to pay cash.

You don't need a realtor, and you aren't pressed for time, you have equity as well.