Some of it is luck or taking advantage of opportunities (eg low interest rates). 

The risk for investors became low enough for them to be really interested in the project.

If you want to put down a low down payment, you might not cash flow for a few years.And FHA for 3-4 units is almost impossible.

It's a combo of low housing supply, higher interest rates vs. seller expectation, and a poor economic outlook for the country.As an investor with a few rentals it's like like the parking brake is stuck on.

Here are a few things that I like about the neighborhoods in Indy compared to other states: high rent-to-home-value ratio, consistent and gradual city development, relatively low property tax and insurance cost, affordable renovation service cost.From my experience, it's possible to find deals that meet 1% rule if you invest in *turn-key* duplex or SFH here, but they are harder to find, and could potentially slow down you from scaling up.

That protects you from having to sell to  low.

On houses below $200k, the 70% rule gives you too low of a profit - you need to lower it the lower you go (ie a $100k ARV would probably be a 60% rule).

You can go as low as 2.5x in some cases but NJ tends to produce enough traffic/applicants where 3x should be minimum unless property is over priced.

Since you are using an FHA I’m going to make an assumption that you are putting a very low down payment on the purchase.

We are in a very low tax bracket this year but should be 10% higher in 2025.