I would think the fact that it has separate electric meters would add some level of legitimacy to the fact that it was converted before zoning, but I don't really have any experience on whether Indy just considers these properties as "grandfathered" or if they try to enact some level of "enforcement."

(It doesn’t matter whether the loss is deductible on your tax return.)You, your spouse, a co-owner of the home, or anyone else for whom the home was his or her residence:Died;Became divorced or legally separated;Gave birth to two or more children from the same pregnancy;Became eligible for unemployment compensation;Became unable, because of a change in employment status, to pay basic living expenses for the household (including expenses for food, clothing, housing, medication, transportation, taxes, court-ordered payments, and expenses reasonably necessary for making an income).An event is determined to be an unforeseeable event in IRS published guidance.Other Facts and CircumstancesEven if your situation doesn’t match any of the standard requirements described above, you still may qualify for an exception.

When pulling these rent comps, be very cognizant of finish level. 

The more regularly this happens, the more it is reflected on a macro level throughout the market.

If I decide to rent the place out again instead of selling it I may start looking for another PM in town asap to get that rented at 10% level. 

An LLC is a pass-through entity meaning it pays no tax at the entity level and all items of income and expenses are picked up on the owners' returns.  

Most of the houses are single level, 2-3 bedrooms on similar size lots. 

Some ways a tenant will search is by specific property location, rental term (nightly, weekly, monthly), a specific mile radius from a desired location like an office, rental rate, bedroom count, furnished or unfurnished, vacation rental, corporate housing, CHBO Complete™, keywords, pet friendly (or not), move-in now, map view or property type (apartment, house, etc.).Marketing IdeasPulling out all the stops to ensure your property earns high annual occupancy levels takes some time and commitment, but is typically well worth the effort.

How do the pricing levels they are willing to sell at compare to what they were 2 months ago? 

It has supply at extremely low levels and most homeowners have a large amount of equity.