You can make this election at the same time you file your taxes by filing Form 1120S, attaching Form 2533 and submitting along with your personal tax return

I appreciate the varying advice people have given me already as it showcases their personalities, risk tolerance, and values.

and the low purchase prices often mask major deferred maintenance that can be a surprise - the midwest housing stock is much older than CA, AZ, NV, etc.i'd encourage you to save up for a house hack locally and then house hack while you continue to learn and savegood luck

There are some large FB groups for Indy and the suburbs, I would check them out and they will lead you to the in person REIA

I have 2 properties in Florida (live in Maryland) one is a long term rental and the other is a short term rental, both are in our personal names.

House hacking will also give you some personal "property management" experience.

House hacking will also give you some personal "property management" experience.

Nothing beats boots on the ground and personal experience. 

I imagine this level of personal capital exposure has an effect on how much risk they are willing to take in a deal, both with the asset itself and the structuring of the transaction.

I don't personally invest there but I know folks who do.spend some time there, go to REIA meetings, meet people, do non-Internet things.