However, ensure you conduct thorough research on the Indiana market, including economic drivers, rental demand, and property management options.Consult with Professionals: Given the complexities of 1031 exchanges, out-of-state investing, and retirement planning, it might be beneficial to consult with a financial advisor, tax professional, and real estate expert who can provide personalized advice based on your specific situation.Retirement Income Planning: Consider how this investment aligns with your overall retirement income plan.

The reason I haven't switched to streaming at my properties is my banker complained that when she stayed at another property in my market they had streaming and her large party of professionals couldn't watch an SEC football game and they had to watch it on their phones. 

Real estate professional (for this posts sake) simply makes rental activity active, so you can use the losses there to offset other active income. 

that's what the professionals are for.i'd work in whatever job you can make the most money in.

Communication and Documentation: Continue to communicate with the tenants about their overdue rent in a professional and respectful manner.

With all of the improvements you have done, is your asset located near hospitals or professional services wherein you could do an MTR? 

As you get ready to start investing I'd encourage you to connect with a local agent in the area that you are looking to invest and they can connect you with other professionals you'll need like a good lender, insurance person, property manager, etc...

The options we're considering are either a multi-family unit in the city or a short term rental property in the city or up to 2 hours drive from Sewickley.However, we're in need of professional guidance to help us make the best choice for our family and investment goals.If you were in our shoes, what would you do next? 

Lots of multifamily homes and a high demand for rentals between students and young professionals.

Hoping to use this network to keep that learning going and take the first steps in real estate investing!