Investing in "small towns" is actually a very broad term.

Now we have a property in Broad Ripple Indianapolis that will end up being a rental.We're not far off from finishing the current project.

It's very challenging to answer broad "where do I start" type questions without writing a TLDR response.

You’ve made several broad statements across multiple threads, and I’d like to see some specifics to support what you're saying.

This could leave you personally liable for damages that a landlord policy would have otherwise covered.What would be a minimum type of coverage on a rental property to still be able to file a claim to pay for damages (in the broad sense understandably damage can be anything small to large replacement). 

I would also be interested in whether or not forming an LLC (or equivalent) is a good idea vs owning the properties personally/ what the pros/ cons are of this approach.Sorry for the broad stroke of a question - any help/ time is appreciated!

Well that's rather broad and vague question, but here's a few things that come up:--experience or lack there of--good credit score or lack there of--6 month reserves or lack there of--down payment or lack there of--exit plan or lack there of

Even if you could find a low down payment financing option, it usually won't work unless you don't mind running negative for awhile.The "Pacific Northwest" is a pretty broad area. 

"Passive income," is a VERY broad statement.

that is very, very broad.