Fortunately I dont have any issues for now, but I want to establish a relationship with one, and have him review my paperwork.

I'll respect your time, and you'll respect mine.  

. - I'm not a CPA but this is my understanding:- If you own the house on the deed and you didn't establish primary residency for 2 years for yourself personally, you cannot sell and claim any 250k IRS capital gains tax deductions on your tax return.

Natalie Vane somewhat more comforting hearing this response, granted I appreciate and respect all responses, my goal is to cover myself and draft the lease in a manner that would do just that....

I currently live in California and the state taxes income from LLCs established in other states unless I can show that it's operated and managed outside of California, which is absurd since the income would be taxed twice ( Indiana and California).  

Respectfully, Isaiah.

The area is a class B- area with 2 other commercial businesses respectfully located right before the 5 street busy intersection.

The first thing to do is to establish clear rental criteria and make it known to prospective tenants that you will be verifying the information they provide.Our rental criteria is more flexible than most.

I only have one property and I have so much respect for the seasoned pros in here.  

I'm looking at a house at 8 in the AM, probably worth $50,000, rent $1,450, its not in HI.I'm only 100 miles from DC, but its a world apart in many respects, but traffic is one that comes to mind quickly.