Hello ,I am curios to speak to a real estate agent or broker in Indiana about becoming a real estate agent and all of the procedures and steps involved.

Follow this six-step procedure to account for the property’s rental income and all the expenses.Step 1: Report 100% of rental income on Schedule E of Form 1040.Step 2: Deduct 100% of any direct rental expenses (such as rental agency fees and advertising) on Schedule E.Step 3: Allocate mortgage interest and property taxes between rental and personal use.

in affected areas first.Taking out drywall is also fairly easy (big hammer, regular hammer, and flat prybar is about all you need) but is very messy so enclose the work area, wear protection and ventilate it.Note if if this is a pre 1978 house which it looks like it is,   and you plan to rent it,  then legally speaking you must be lead paint certified and follow abatement procedures when removing or disturbing more than six square feet of painted surface in any room. 

@Jeremy Holcomb A couple of clarifications:To get clear title, without a quiet title action, you have to wait 4 years from the issuance of the tax deed.I don’t believe the death of an owner prevents a quiet title action, just like it doesn’t prevent an foreclosure.You Can use Tax Tile Services out of Cali to insure your title on this purchase, instead of a quiet title action, after they verify the county tax collector followed proper procedure.....but you’d also need to use them if you resell within the 4 years.ORJust buy it with a quit claim deed, maybe you might have an attorney or title company look at the tax collector file to verify proper notices, etc, and wait the 4 years to get clear title.  

Your broker should have their procedures of putting a property on the MLS or not and the owner also has a say so of course.

Then I would suggest you create a business plan of how the company will look when built out, and follow that up with an org chart.Next I would create policies and procedures for all the processes you are going to have to create when managing properties...And finally you need to make sure you are current on all the laws that govern you on a local level, state level and federal level (Fair Housing, Discrimination, Property code, eviction law, Fair credit reporting act, tenant rights, IRS)As you can see and I learned there is much more thought that needs to go into starting a business, whether it is PM business of any business if you want it to be successful.

A large percentage of them lose tons of money because they don't have procedures in place, they get tired of maintaining the home, they let in bad tenants with sob stories, and they can't keep up on market rates.

Appreciates their systems, procedures, tools, and level of separation they provide from their tenants.  

Until you begin onboarding new clients, I would focus on creating a welcome guide to outline your services, procedures and policies.

If I was heavy into either multi or SFH I would work on getting my processes and procedures and team down.