We would need to hire a management company (found one we like, they take 30% but allow owners up to 60 days/year occupancy).

Whether you go there or a provider you hire, they can tell you if they notice any other condition issues with the property. 

I'm in the process of researching the Lafayette, Indiana market for potential rental property investments.

Another thought process is, you be your own general contractor (don't pay a contractor to handle the rehab).  

Hi,I am in the process of purchasing a property currently occupied by tenants.

If you really feel something this simple needs to be fleshed out so much, have the client hire a lawyer to write up these contract terms. 

But then there are so many processes you have to go through that it isn’t really worth it.

Hi, I'm a realtor in Bloomington, IN and I want to learn as much as I can about the VA loan process to serve clients.

Has anyone come across any tools or software that can help us with this process? 

They can provide insights specific to your target market and guide you through the process.Alternatively, if you prefer a more hands-off approach, you might explore real estate crowdfunding or consider investing in a real estate syndication where experienced professionals manage the process, and you can be a passive investor.Ultimately, the best strategy depends on your goals, risk tolerance, and level of involvement you want in the investment.