The formula(s) would look like:Potential Gross Income (PGI)  = full rents + any other income at 100% occupancyminus Vacancy & Collection Losses (8-10%) is typically usedequals your Effective Gross Income (EGI)Then you subtract your operating expenses (taxes, insurance, management & legal fees, repairs, utilities, lawn service, pest control, etc., and a reserve for capex) to get your Net Operating Income (NOI)From your calculated NOI, you can really start digging deep:Subtract your debt service from your NOI to get your cash flowDivide your NOI by the acquisition cost to get your cap rateTake your NOI, add the reserve for capex back in, then subtract your mortgage interest, to get your taxable incomeDivide your NOI by your debt service to get your debt coverage ratio (tells you how many times will your NOI will cover your debt/mortgage payment).

I know people that have legal service dogs just so they can bring the dog places and not be questioned ie the mall.  

Yes it is legal to rent a house you don't live in, to an extent as there is a 270 day occupancy requirement for a permanent resident; which really means that you can only rent it as a "whole house" for 95 days out of the year (I may have those days flip flopped, it may be 275 and 90).

We're not in Indiana but have purchased real estate there and need a reliable Indiana attorney to give legal advice.

I will spend more time and money on the more "evergreen" amenities like linens, nice design, matching tableware, etc.

The bank designates the account as Deposit only and will not allow any withdraws.

And you cannot legally screen the way it sounds like you might want to.Not many buyers study the neighborhood believe it or not.

My wife and I are very design and architecture minded. as for the heavy lifting?

Do not rely on it for legal advice.

I holding the process until the first refusal problem is solved cause I don't want to cause any legal problem to the seller.I sent a First Refusal letter before submitting the purchase offer, but the lessee said that he never received anything.