I saw some good deals from wholesalers, but all they request to pay cash or hard money.Is it wise to use hard money to purchase primary residence, rehab, refinance, and move in? 

-------------------------------------------------------------------------------------------------------------James Wise, of Holton-Wise Property Management Group, in Cleveland, Ohio; he had a few videos on U-Tube, a year ago, in which he goes over points, in how he manages Rentals, for himself, or for others.

Do remember this, if you sell it now you have some tax shelter under capital gain tax, if you rent it out and sell it later you can only protect yourself, tax wise by a 10-34 exchange, unless you move back into the house and live there for 2 years.I would lean toward the rent and hold only because your house is in a great market and location and should only go up in value and rent.

When you buy you pay the commissions, however, accounting-wise it doesn't show up that way on the closing docs.  

- What do I need to ask for contract wise?

If your place is roughly similar in size (sleeping wise) then renting it as one place is the way to go.

I would recommend asking around for who people use as a property manager in Indianapolis so they maybe able to give you advice and help you make wise purchasing decisions.Finally, start slow and learn. 

But offsetting your cost of living by having roommates pay most of your mortgage and capitalizing on Boulder's consistent appreciation makes it a wise move for those that can pull it off.

Also seemed a bit hard for number wise

Unless you have money to gamble - Wise choice!