Be EXTREMELY Careful on New Builds Indianapolis!

Do your own due diligence - of course!!  Be wary of Major rehab or NEW CONSTRUCTION during the winter months!!

I would be very very careful in markets like Cleveland, Indianapolis, Detroit, Columbus.  You may be told "Oh, it just slows down in the colder months".  Hey, it WILL slow down.  Your property will be sitting and you will be paying HOLDING COSTS!!!!  Believe me, it took me several years of watching this to see the impact, discuss it with dissatisfied clients and hear the financial pain it put them through.  

Be especially wary if the person or company providing the services, (meaning construction, project management, etc.) is also the company selling the lot, or has the same principals involved.  Honestly, it can work out OK, but it severely decreases the likelihood you will receive truthful and up-to-date reporting on your money.  In many cases, you have to pay funds up front - for either construction costs or on the property purchase.  

Really, you want to get involved in that kind of risk?  Just my opinion, but I would do huge due diligence in the Midwestern states.  I was once a proponent, but have recently seen waaay too many failures.  The seller of the property and the GC have no liability.  Just be diligent!!!