I got the rent roll and past 6 months expense report by the property management company.

Example (I'll round numbers for ease); Buy property for 250K100K down from SDIRAs, 150K Non-recourse loan @ 5.75%/20 years (60% financed)30K Income, 13K Operating Expenses, 9K Interest, "Net Income" for taxes of 8K (before depreciation which would be 12K on whole thing).........................................................Does this the we would take 60% of the 8K "Net Income" or $4800 and then take off 60% of the 12K depreciation or $7200 to have a negative net income of $2400?

Ask for the Rent Roll and the Trailing 12 Income & Expense report, then see what your NOI looks like.

Who knew North Dakota was such an expensive rental market?  

If you're truly making $600 month after all your expenses, selling the house would hurt your DTI ratio, not help it. 

Minimize recurring expenses as much as possible3.

Does anyone know what's typical or know where I can find what % I should put in the calculator for the following in Indianapolis :Vacancy Repairs and Maintenance Cap ExAnnual GrowthAnnual PV Growth Annual Expenses GrowthSales Expenses Thanks!

This condo is one of the least expensive in the building.

I have really been considering buying rentals in Midwest since I have family out there and Denver is pretty expensive at the moment.

Just waiting 3 years for that depreciated market will cost you more than your total profit when you factor taxes, closing costs, depreciation recapture, loss of further depreciation and expense write off, and lost rent (8K a year is nothing to sneeze at)If you really want to sell now then @Ralph R. has the right idea - do a 1031 exchange and shelter the tax.