I personally prefer 2 bedroom units over 1 bedroom units for a multitude of reasons.Typically more desirable, commands higher rents, less turnover as tenants tend to stay longer, etc.

Stay with observations.

Just trying to figure out how long they can stay there in the worst case scenario.

Make sure you set up your key word alerts so you can stay tuned to what going on around town.

Stay away from Hammond, Whiting, Merrillville or Gary - unless you want to be in a B- or C/D-class property.If you ever have questions about the area or need some boots on the ground in NWI, I'm happy to help or connect you with some great people who can!

Anyway, you can get decent at it if you take your lumps (which means $50-$100k inefficiently spent), but it's going to be expensive and you should stay away from a partnership with your brother-in-law especially.. my 2 cents..

That could be a great way to find and stay engaged with local investors, realtors and opportunities. http://www.biggerpockets.com/alertsYou can also search for other investors or brokers in the markets you're pursuing, and follow their journey on Bigger Pockets here: https://www.biggerpockets.com/search/usersBest of luck to you and look forward to following your success on BP!

or "oh yes I know the place you are staying at now, how much is your rent?"

It’s been a tamer and mellower market this summer with houses staying on the market longer, but is really a function of price point.

That could be a great way to find and stay engaged with local investors, realtors and opportunities. http://www.biggerpockets.com/alertsYou can also search for other investors or brokers (or even real estate attorneys) in any of the markets you're pursuing, and follow their journey on Bigger Pockets here: https://www.biggerpockets.com/search/usersBest of luck to you and look forward to following your success on BP!