You simply need to get an umbrella policy for liability purposes (same protetion as LLC) depending on you running the risk of getting sued and if you have a lot of personal assets.

My desired strategy is buy and hold where I can get quality assets in B-C neighborhoods for 35-50x rent all day.

I try to aim for a least a double digit ROI, but have yet to find one worthwhile my timeHow is the market up there in Indianapolis, is it hot like everywhere else?

It gives me an idea of where this asset sits as an investment.

As it pays down it will be an even greater asset but that's assuming the market won't tank in the area...but that's a risk only you can choose.

This way I get LLC asset protection and because the business is "passive" real estate (rentals) I need not pay salaries and self employment taxes.  

@Kyle SmithThere will be an option on your 2018 tax return that will allow you to defer the gain if you put it into a qualified opportunity fund.I am not sure why you would need to extend the return if you already sold your capital asset.

The main issue is that I don't know how I would get a loan for a project of that size as neither my parents or I have very much in cash assets.

Ill have to ask him if he’d be willing to take the time to actively teach me, knowledge is the biggest asset!

You can make some money off the market value properties if you have some turnkey investors looking for less of a return on a stabalized asset (hedge funds are good buyers of these type of deals).