Turnkey properties are already renovated and tenant-ready, meaning you can focus on the investment side rather than dealing with major repairs. 

My job is our sole income and I get relocated for projects frequently so any property would have to be managed remotely (willing to invest anywhere in the states).Given the our situation above and our long term goals, I feel best next steps would be a heavy emphasis on networking and deal analysis.

What I have are the rents of the 3 tenant occupied units, the owner supplied projected rents for the other two units and a hokey formula on parsing out utilities for the units that are not separately metered. 

I am currently employed as a project engineer working for a GC that builds multi-family projects.

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.

In 2022, we also bought a gutted 56-unit apartment complex and fully renovated it in 14 months (over $2.25mm in construction)!

Seller Pre-Sale Financing: Consider selling the tenant-occupied property "as-is" now to an investor, perhaps at a slight discount, which could save time and eliminate renovation costs.

Hey Account Closed - I highly suggest  using a renovation loan and house hacking a multi-family if that is possible with your current life circumstances.The 203k and homestyle renovation loans are just amazing products and drastically help you reduce your risk, in my opinion, because you are able to leverage the cost of the entire renovation with such a low down payment loan.We work with a lot of clients who use these products in Chicago, and no matter what, in the long term, they gain great equity.If you aren't able to house hack - the process is essentially the same, but just with more money down with hard money or conventional construction loan.

• Crowd-sourced projects (think Crowdstreet, Fundrise, Roofstock)• Moving into investment for 2 years and sell (seems extreme and low level of confidence in strong desired results.) • BBD - Bulk everything together into one large investment, cash-out refinance, rinse/repeat (seems like ongoing work like we have today.)• NNN - purchase triple net lease opportunity (1031 everything into it, managed under trust, tenant takes care of everything) • Sell each off the normal way (even spreading out one a year, heavy tax implications and truly diminishes decades of work.) • Give/donate each away-----I expect many here have already been through similar dilemmas and interested in experiences, lessons learned.

I am a current college student and gained interest in real estate as I am working on a project focused on finding ways to expand opportunities for real estate investors.