For a single property, a strong umbrella insurance policy may offer sufficient protection at a lower cost.

For example, they won't need to cover your personal belongings (furniture, clothing, etc.) because you won't be living there.A landlord policy should cost about the same as a homeowner's policy; it just changes what is covered.

If you plan to hold do a Cost segregation if you want cash now.  

Tip: Take a couple videos of the place fully furnished before anyone moves in and send them as video tours to potential tenants on FurnishedFinder when they ask to see the place.

Start small, ensure your numbers (purchase + rehab + holding + selling costs) leave room for profit, and build a reliable team (contractor, agent, lender).For financing, work with lenders who specialize in fix-and-flips. 

However, some challenges to consider are the additional paperwork, property inspections, and potential tenant turnover.

Quote from @Hanna Brown: @Jay Hinrichs If the bidder at the auction pays cash for keys to get the homeowner out, does the person redeeming from the owner position (exercising rights of redemption w/in 180 days) have to reimburse them for those costs they paid to get the homeowner out? 

I work in group home settings for a living and at my previous facility there were two clients per bedroom which would give you potentially 8 in your house while at my current job there is one client per bedroom which would only be 4 clients in your home.

I paid about $1500 in closing costs between title, appraisal, etc, but the original loan was wiped out in favor of a new lower rate. 

Indy is a strong market with a great mix of cash flow and appreciation potential, plus it’s very landlord-friendly.