In the meantime, I am trying to better understand the Indianapolis (Fishers, Carmel) real estate market and considering getting a realtors license.In Indiana, the cost for the real estate licensing course is approximately ~$580 and an additional ~$80 annually to maintain.

Consider going the route of long term rentals in a different market if this worries you.

As Bryan stated, yes RUBS is generally legal in California, but there can be limitations depending on the market and the leases you have in place. 

The location, the market, and the calss of asset.

DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

Build cost 2 million ($240 per square foot for a 5400 square-foot duplex) (Sale price $650 per square foot valuating the duplex at 3.5 million) Upon stabilization, the properties market value is projected to be between 4.5 and 5 million.

Timing the market does not work.

I think that add ons are very market dependent.

It may have to go to the Excess/Surplus market (ie.

I wasn't sure why you were so focused on LLC related questions... as again, to be blunt, those generally aren't that important compared to knowing a market, buying a good deal, having a good team set up, and things like that.