I've done a bit of looking around Indy in more detail over the past week and there are a lot more areas with a lot worse crime than I initially realized and that's not something that I want to be too close to.

You dont have to have the property on hand but they might want the address to take a look at it and give you numbers and of course the numbers can change.

However, one mistake some investors make is performing only minor repairs after purchase.I prefer to buy a distressed property and address all the biggies, like electrical, plumbing, heating, roof is needed, etc. 

Since no details were given to income or current situation.

That time has to be documented with a detailed ongoing time log.3.

Although like Mike said since its closely targeted, giving details of you intentions and interest in the property might not be bad idea.

Can you send me some details?

It seems like these posts always lack in details so I will try to give the most information possible:Sale Price: $575k  Current rent: $6825 (this is topped out, no room to increase)Loan terms: 20% down, 20 year 5 year balloon  5.75% interestsManagement: 7%Insurance: $3200Maintenance/capex: $5000Taxes: $8900Vacancy: Using 5%Property is C class and in good condition (new furnances, roof, etc) No common areas.

You will definitely want to consult a local attorney that specializes in landlord/tenant law for the details.

Partnerships are great when all of the potential problems that may arise are addressed early on.