There are plenty of other good pockets around Indy that you could own and feel safe about going to visit.  

If you've ever had some device that had a bright indicator you ended up covering with tape you'll understand why this does really matter.  

goal:  to make it a safe place people want to be,  and raise children.

I think my best bet is home equity line of credit because I am trying to avoid  hard lenders to be on the safe side and minimize the pressure to sell fast and loose money just because I have to repay at a certain time. 

stephan. here is how i do it. granted, i have been doing it for years now, but it works. it sounds like you know how to do it now. go thru, get a list, a very very well detailed list of everything you need. go to home depot and lowes and get prices. add 20% to your total just for error sake. usually, you will go over your budget by 10% so 20% gives you a fail safe. figure out how much you can do and how much you would have to hire done. then, find handymen and college kids to do everything you can't do, for pennies on the dollar. you will be amazed how cheap you can do it

In terms of lead safe inspections, rental license, and rental inspections: how often do they need to be renewed. (3 years) ?

We're planning to purchase long term rental properties in Tennessee and South Carolina- we're looking in the best school districts, safe neighborhoods, properties with good history and looking for great deals ( looking to pay approx. $65 sq. ft. in a $100 sq. ft. area).

In particular SAFE Act rules and Dodd-Frank. 

My opinion is that a cattle ranch will be much more valuable than a safe full of gold, in the event of such a massive downturn.  

There is likely a price at which you would feel safe and excited purchasing all these homes for.