My husband actually did this when he became a realtor and the process was very simple.  

They provided registered address and limited mail forwarding for free and the process was fast and efficient.

Still need to close on the property because I have already put 18K downpayment and then work with city on split process.  

A strong team can streamline processes and reduce headaches.Expand Knowledge: Podcasts and forums like BiggerPockets are great tools.

In that case, would the renting process be a bridge to help you retain the home for future personal use? 

Key points include:Security Deposits: In Indiana, there’s no legal cap on security deposits, but you must return the deposit (minus any valid deductions) within 45 days of the tenant vacating the property.Evictions: Follow the formal process carefully.

Evicting them, even after purchase, could be a lengthy and costly legal process.

Start the eviction process.

We have created work instructions for every step of the process so we can maintain consistency in how we evaluate properties, communicate with tenants, market our properties, handle rent increases, manage property turnover, etc..... 

I was hoping I could get some more general information on how this whole process goes and to inform myself on the pros and cons given im a newbie and don’t know much.