I am brand new to the site (just joined a few weeks ago).  

This is a litigious business and its good to protect your personal assets from some of the crazies out there :D You don't need to go nuts with a website, tons of branding, etc, just set up a basic corporation or LLC instead of operating under your own name. 

@Andrew Cordleand @Sharad M. what cities in NW IN do you buy, and type of properties at what cost:2-3 BR/1-2Bath SFH - Price point for 2 BR and 3BR+2-3 BR Duplex - Price point for 2 BR and 3BR+MF  2-4 Flats - Price point for 2 Flat. 3 Fl, and 4 Fletc.

Or if you have a bad color or brand that failed miserably, please do tell.I have always painted my properties the same color, Vanilla Brandy in Eggshell.

But last night someone broke a window - one of my brand new windows too! 

I have 11 rentals in Madison MS Ridgeland MS that I bought brand new for GoZONE tax benefits. paid 150 to 225k each for those SFR's they rent at 1400 to 1700 each... some of my very best rentals. 

-I might have misunderstood something, but I calculated $46,200 gross potential based on rental rates of $425 (1 BR) and $500 (2 BR).

If you go sole-proprietor route I would suggest you obtain a Fictitious Business Name (or DBA - doing business as) so you can start building brand for your services.Being sole-proprietor will enable you to qualify for a Solo 401k and then invest your retirement funds.

I have one that is Orbit brand and it is pretty foolproof.

The only difference is that one has a brand new furnace and the other has a furnace that is 15 years old but works just fine.Generally when doing deal analysis it seems people will account for estimated rehab to make a unit rentable, and they will estimate an amount for monthly or yearly maintenance and capital expenditures either as a percentage of rent or some estimated dollar amount.