Also make sure to pin point an area, whether you would like a C+ and above neighborhood or not.

I would also begin pinpointing the areas that you believe would be the best areas to invest in.

While your post gives me pause with MI, I am trying to pinpoint where these properties are in Indy.

But as we continue to purchase more properties and build our wealth, we'll for sure form LLCs in the future.Did any investors, especially out-of-state investors like us, have similar experiences and might be able to pinpoint things I don't see?

It is impossible to pinpoint to one thing, consistent activity to better yourself and learn will get you to great places. 

You'd probably have to pinpoint a specific area first to see if there are any owners there willing to enter into a partnership agreement with you.

Both help, but if you don’t already have units you’re renting in the area the next best thing is to find a good property manager or agent as they should be able to help you pinpoint some rents. 

I created map queried from the database to help pinpoint areas to invest for buy and hold investors.

I'm pinpointing certain cities that I like and constantly looking at listings.

Your question is valid, it’s the just right number that’s hard to pinpoint but you can figure it out.