This will open up your options a lot more. 

Andrew, I have had some questions about this post.The title of this post may be ambiguous. 

I looked into this prior and there was no way if you are dissolving and changing tittle to the assets - what is your cpa saying ?

In such cases, using the land trust-to-LLC strategy can mitigate this risk.

This is a free reporting that most entities will need to file but there has been a TON of back and forth of if it should be allowed. 

But to date, I've just set my rents at a rate that accounts for me having to pay the water bill - and informed the residents that each year I'll increase the rent based upon my expenses (including water), so keeping the bill down helps me to help them.But one problem this could cause is if increasing the rent to cover the water bill then places your rent above the market rate.

It’s great to see you doing your research and looking into strong markets like Indianapolis for your first investment property! 

Hope this helps, and good luck with your first property!

👋It’s a pleasure to join this community and connect with people passionate about real estate.

West Valley cities like Buckeye and Avondale, East Valley spots like Apache Junction and Mesa, or growing areas like Casa Grande and Maricopa are worth exploring.