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have you checked it out with the assessors office?

A lot of people use them interchangeably.

I typically think of "rehabbing" as longer term more substantial improvements whereas "flipping" would be more cosmetic and focused on a quicker turn around.

But that's more for positioning in my own mind. Ultimately they're essentially the same for most people.

There are dozens if not hundreds of things you should consider when looking at flipping homes. I'd suggest trying to find a mentor who can help guide you early on.

But to more specifically answer your question, I like flipping with the worst house in the best neighborhood. Allows me to maximize ROI most often.

I agree with chasers. I'm not in Indy but more the NE suburbs. If you're looking for long-term cash flow investments, the Indy metro area is a great place.

City has really taken off in last 10-15 years and a lot to come.

Buying an investment property is exciting - especially your first.

Stay in control of your emotions. Don't let the excitement of get this property overcome your rational senses if/when the seller counters.

I'm a firm believer that profits are made on the buy, not the sell. If you can't get it at the right price, it will never work. So as long as you know your max price and stick to it, you'll be fine.

Congrats!

Owned a Baskin Robbins and needed some extra money in the winter so I got involved in real estate. My wife told me that if I was going to invest in real estate I had to sell the house before I actually owned it.

So I did.

Bought a house and sold it on contract hours later. Still own it today. It was the first of many to come.