Hi, I'm Didi, an out-of-state investor looking to expand my international portfolio in Louisville.I think Louisville is a great city and has tremendous potential. 

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Where to start with guidance and then drilling down what my personal potential is?

It's going great and has no loss potential.

I didn’t want this thread to turn into a bunch of negative energy and questioning others.

At this stage, I hope to have enough experience, and the network to be able to accurately estimate total expenses, allowing me to move towards bigger projects with bigger potential gains.Any advice on ways I can move forward with my goals?

The capital gains you would get from selling the property go back into the IRA tax free or tax deferred, depending on if the account was a Traditional or Roth and the only time you would incur taxes is if you took the money out of the qualified retirement account and took it into your personal name as a distribution.I would never own real estate inside of a retirement account.In your situation of transferring a certain percentage of the property itself instead of cash, you would need to pay a bunch of professionals on an annual basisA) $600+ for an appraiserB) $500+ for the title company to transfer ownershipC) $300+ for your accountant to properly adjust your taxable basis for the rental activity reported on your individual tax return.D) You risk your property taxes being reassessedYou also have to properly split each expense Furthermore, since you are not receiving cash, you would need to potentially find alternative methods to find cash to pay your tax liability.Yes, you are correct, depreciation is not needed/used within an IRA.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

New to the BP community and potentially looking at some single family and small multi-family in the Irvington, Indy area.

In Northeast Florida my experience has been that it is slower in January/February as far as showing traffic/potential tenants.