If you are talking SE or near "B" Street, I wouldn't do it.

Make sure your review California sources as there are very specific regulations and procedure you must follow. http://www.dca.ca.gov/publications/landlordbook/se...That's california law.

I focus in the SE quadrant of Indy.  

It sounds like you make enough income where the accountant will easily pay for him or herself.When you are getting paid 1099 income, on your tax return you are treated as a sole proprietor, and are paying SE tax of 15.3% on top of your normal tax rate.  

I have properties in one neighborhood in SE Memphis and every house has had termites at one point or another.

Otro punto que no tengo claro es el tema del IVA, si realmente se aplicara en algun momento, y si esto realmente producira un alza en losprecios de venta.

I understand there aren't "Lists" per se like there are for the tax sales. 

I have the same setup for a client, llc(s) for different rentals and investments / ownership, and and then consider the s-Corp once the income is high enough to justify the impact of wages and SE taxes.

If you like cash flow, SE Raleigh is good...and then there is everything in between.

(See @J Scott 's e-book/diary on  building his spec home in Atlanta to get an idea of their Permitting/Inspections offices).The biggest positive starting the project was the team assembled was awesome to work with and had solid rehab experience.