Homes that old are subject to all sorts of issues ranging from knob & tube / fuses to shrunken cedar posts supports to ancient plumbing, so the inspection is not only key, it will also be a way to negotiate pricing down post-inspection. 

@Ashlie TiscorniaJust because you have a full-time job doesn't mean that this activity would not be subject to self-employment taxes.

I’ll throw in a few subjective items...

These loans focus on the property, your credit, and cash flow of the your business operations for the Subject Property.If you are looking for investment properties that you are planning to occupy, there are also other programs that you might qualify for. 

@Scott Pollock it's actually within FHA acceptable guidelines to have a 2nd fha loan if your situation has changed unexpectedly as long as the new subject property is 100 miles away from your current fha primary home.

As mentioned above, pocket areas in Indy are frequently the case.

I recently helped 3 of my clients find coverage for their portfolios between 10 properties and 51 properties, so it can be done.My suggestions is to find an insurance broker who works frequently in the real estate investment space, who has the knowledge of coverage, AND the available companies to be able to help you now and as your portfolio continues to grow.For your second question, I would also 100% suggest looking into implementing an umbrella. 

I'm looking to connect with investors/wholesalers that want to do deals in the subject area.

Yes you can if you meet the requirements.If you are not a real estate professional, the passive activity losses (PALs) generally are deductible only (1) against income from passive activities, (2) when the entire interest in a passive activity is disposed of in a taxable transaction, or (3) under the $25,000 rental loss privilege for qualified rental activities (subject to the $100,000 AGI phase-out).The general is a rule allowing up to $25,000 of active participation(see below) rental real estate losses as a deduction against nonpassive income.The taxpayer must make management decisions with regard to the property, have at least a 10% ownership share in the property, and the cannot be a limited partner.

Hi and congrats, yes an inspector will do a single report and will make notes of deficiencies on each particular subject and he should make note on were the deficiency is located, property A or B.