Here is a diagram to help you in your quest:From your question details, I would not look into LLC yet.

I'll shoot you a PM with more details because I can't really be looking like I'm selling you something on the forums but figured this was good info for anyone tuning in to the conversation.  

Thank you for your detailed response. 

Your cash on cash return for each individually will be much higher since you've only laid out 20% vs 100%.I could go into more detail, so let me know you have questions.

You did not include a line item for Property Taxes or PMI. 

I've done a bit of looking around Indy in more detail over the past week and there are a lot more areas with a lot worse crime than I initially realized and that's not something that I want to be too close to.

@Ian Barnes Do you have 1-3 good inspectors that you could pass their contact details over to me? 

Since no details were given to income or current situation.

That time has to be documented with a detailed ongoing time log.3.

Although like Mike said since its closely targeted, giving details of you intentions and interest in the property might not be bad idea.