Legal RequirementsIndiana landlord-tenant laws are generally landlord-friendly but require you to be diligent.

From what I can see around here it is a landlord friendly state so when you turn your prop into a rental you should do well as long as the numbers are good.Acquisition is all about entry price.

Purchase price: $35,000 Cash invested: $35,000 Sale price: $110,000 Purchased off-market from a tired landlord, this fix-and-flip involved renovating a distressed property with outdated features and deferred maintenance.

Purchase price: $35,000 Cash invested: $35,000 Sale price: $110,000 A fix-and-flip project purchased off-market from a tired landlord involved buying a distressed property with significant deferred maintenance.

Often, it will also need work.So, that is causing investors to lower their standards and buy Class C & D rentals.Problem is, most investors apply Class A assumptions to these Class C/D properties - and then blame everyone else when they don't get their "expected" results.Check out copy & paste info below for more dtails:------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Purchased a little too high at the buy (I knew it at the time too), does a little better than breaking even on cashflow, and took too long to rehab.

Why do you think purchase contracts are so long and have such small print?

So it was 153k for the purchase and 40k for the rehab, I had to come up with the rest. 

I purchased a property that needed a lot more work then intended.

I purchased a duplex (Austin, TX) at peak market prices in 2022 for $720k.