Creating macros that provide shortcuts for frequently used strings is a very good idea. For an entry-level introduction to the uses of the LaTeX \newcommand directive see, e.g., Chapter 6, "Customizing LaTeX", of the guide The Not So Short Introduction to LATEX2e.
For instance, you could issue the instructions
\newcommand\loghi{\log(\mathrm{H}\textsc{i})}
\newcommand\sfrm{\log(\mathrm{SFR} / \mathrm{M}_{\odot})}
in the preamble and, later on in the body of the text, write something like
bleet bleet $\loghi=\sfrm$ more bleet bleet
As you've already noted in a comment, a complication arises if these macros can also be used in bold surroundings such as sectioning headers. Specifically, given the above definition of \loghi, LaTeX will try to typeset the letter i in bold-smallcaps. As you've discovered, if the font family you're using does not feature a bold-smallcaps font, the letter will be set in "ordinary" bold, i.e., as i. Not the desired effect, right?!
What to do? I think you have (at least) two options. The first is to use a font family that does feature a bold-smallcap font. Two such families arenewt xtext/newtxmath and newpxtext/newpxmath . The former provides a "Times Roman" look, the latter a "Palatino" look. This may (or may not...) be acceptable to you.
Second, you could set up the macro that defines \loghi in such a way that it won't even try to use a (possibly nonexistent) bold smallcaps glyph. For instance,
\newcommand\loghi{\log(\mathrm{H}\textsc{\mdseries i})}
(note the addition of \mdseries to the argument of \textsc) instructs LaTeX to apply \textsc to a "medium weight" (rather than a "bold weight") version of i. As long as the medium-weight font features smallcaps glyphs, you'll be guaranteed success.
\def\loghi{\log(\textrm{H}\textsc{i})}Then in usage,$\loghi$. Note I left$out of the\def, to allow it to be used in conjunction with other math; for example,$\loghi = x$. – Steven B. Segletes May 10 '14 at 01:44\def\rms{root-mean-square}, its usage in text will usually bethe \rms{} of..., with the empty braces following, otherwise the succeeding blank gets eaten by the TeX parser. – Steven B. Segletes May 10 '14 at 01:48xspacepackage is very nice to avoid the need for{}at every use of a macro defined in such a manner. – cslstr May 10 '14 at 02:49xspaceisn't so sure: http://tex.stackexchange.com/questions/86565/drawbacks-of-xspace – Steven B. Segletes May 10 '14 at 02:50\newcommandis "safer" than\defin that, if a macro by that name already exists, it will break the compilation, rather than allowing the original definition to be overwritten by the new\def(which could cause strange, difficult to debug, errors). Call it typing laziness on my part. – Steven B. Segletes May 10 '14 at 02:53xspace-- interesting... – cslstr May 10 '14 at 03:02\Hi,\SFR,\Mo), and then use a snippet 3rd party app (if your editor doesn't have snippets) to input fast, e.g., you can teach it to work if you useli+ TAB and then print in your document\log\Hi. – Manuel May 10 '14 at 09:00