hi for first post here..
but anyhow was just wondering if anyone know about it being ok to place the RB2011iLS-IN vertically where the ethernet ports would be pointing downward by then?

its for a home network so in term of suggestive cpu load it would only see occasional local gigabit traffic but otherwise usually basic cable internet with simple rules
(not sure if that would help the question or not but decided to add it still)

You can mount it in any position that you want. 

thanks intrusdave, might be able to mount it horizontal but just wanted to know. will think a bit more before posting about the hardware side of this planned setup

No worries.

I have several RB2011's mounted on walls. And a ton of RB951's mounted upside down on ceilings.

There is also special mounting bracket for this way of placement.
http://routerboard.com/RBWMK