I would suggest a newer build [1998-up] like a subdivision "vinyl village" home to purchase.These will cost a little more than an older home with the same rent but are much newer, typically on a slab [no moisture issues to deal with] and are easy to rent and/or sell in the future.One downside of this type of home is that most good markets [Indianapolis included] have been invaded by the Wall Street Hedge Funds and they have or are buying up this product at record rates.

Don't you think a hotel would make a larger profit than an apartment complex?

That too could be a private lender in nature or a partner but those both of those would be my second inquiry choice as they will cost you a little more than an institutional type lender.

So, I vetted about 10 realtors and interviewed the first one I met with at our first showing with an exhaustive list of questions I found and it turns out he was an excellent fit. 

Also, if asset protection is a concern is it necessary to use different companies (for each wholesale deal) or use a trust even if you will only take ownership for a less than an hour?

All I can say is go with the most qualified individual you can get on your terms.If anything the higher the price the smaller the buyer pool and the harder you have to work to move the property.I pound the phones everyday.To think that you stick something in the MLS and hope a broker/agent will contact you is stupid.If that's all the broker/agent is doing they are no better than an MLS listing company.

Anyway, this story is ongoing but I made some progress.So I got the house under contract for 72,500 - after exhausting my potential buyers from REI club friends, I BUY HOUSES ads and craigslist responses as well as meeting with a member from here - they told me the price was too high and that two families would typically go for 55 - 65k max in this area.By chance I was meeting my realtor in Jersey City in a bar/restaurant where she happened to know the owner - and he does lots of buy and hold real estate.

Commit in advance -- No more than an "As Is" 50% LTV investment in any property with their money.Prepare a single page program in advance, with your personal information -- and have it ready to present at any hint of interest.

You'd make 20-50% more than an "inside" person.  

In my state the 30 day notice is a lot easier than an eviction and we do not have to give a reason why.