Where do I begin to learn about the cost associated with the 3 - 6 months of expenses and the inspection process? 

Getting an LLC in place from the start can provide peace of mind and give you a chance to familiarize yourself with the process before expanding your portfolio.

The process has been difficult and stressful and we almost gave up a few times. 

We have only 2 criteria for the order we process applications: 1) nearest move in to the date unit is available to be rented 2) order that the completed applications are received.If we had a unit for rent that would be rent ready Jan 15 and have multiple applications, the application processed first is the one who can move in the fewest days after Jan 15.  

It is just a reality how many PMs have no idea how to process claims and have close to 0 systems to protect assets for business owners. 

Alot of unknowns as you don't have the ability to walk the property beforehand, but interesting process, and pretty good deals exist there.While the Trustee Sales are cash purchases, there are many hard money options that can turn over the funds in time for the 24 hour funding required to complete the purchase.If you are interested, let me know and I can go into more detail, as well as make some other suggestions for you to consider. 

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.

Renovating a 3-unit townhouse sounds like a great project.How’s the process going so far? 

I am new to this, and you may find the answers with this process as well of course so I consider asking here worthwhile as well.

If, through the process of renovating the property, the market shifts, do you have an alternate plan for the property, whether it be to live in it until the market improves, or convert it to a rental property, etc.