Good morning fellow investors, I am about to break ground on my first development project which entails adding 7 units on a lot that already has 2 units on it.

Specifically what is the address or at least what block is it on? 

Generating a way better return on Investment.

It's more important on 5+ unit acquisitions.What we don't like about the BP Rental Calculator is its one-size fits all approach.

Starting, you should focus on properties that need light renovations. 

I am looking to buy my first investment property and have seen strong fundamentals in Indianapolis (job growth, population and median wage).As an out of state investor, I am looking to connect with investors/agents in the area to build further knowledge on specifics with the markets and hopefully bring business to in the future!

I think it is somewhere on FM 349, but we have never attended. 

So around $220k-$230k, plus at least 3 months reserves on PITI, which is likely another $15k-$20k or so. 

Sorry for the tough love, but not buying the above.You & your wife's salaries should cover your expenses, while the income from your remodeling gigs should be saved.Recommend you review EVERY dollar you made and what you spent it on in 2024.

Get an umbrella policy for the LLC if you don't think you have enough insurance on the rentals.