As of December 15th the cost to close was $429,000, and in the same neighborhood there have been 3 similar layouts selling from 550,000 - 600,000.

Hey Ronnie,Take a look at it from this angle: one of the factors that will help push your rent in the higher range is the condition and layout of the unit.

If the layout is good so that you don't hear or see each other (good privacy) and you get the right tenants: (low key/low maintenance-people you'd hang out with as friends) newly married that work or go to school all day and just sleep there make it a breeze!

If the layout is good so that you don't hear or see each other (good privacy) and you get the right tenants: (low key/low maintenance-people you'd hang out with as friends) newly married that work or go to school all day and just sleep there it's a breeze!

That will help you understand the layout of the city... but understand that Indy has distinct boundaries of neighborhoods and homes 2 blocks apart can be very different.

The one piece of advice I do have on your purchases is this: buy the best quality assets you can possibly buy/afford (ie location, neighborhood, layout of the home, etc.).    

As a result, I want to lay out a scenario I hope to create (let's assume I can create the scenario below) and I am asking feedback on all of the things that could go wrong that I should anticipate/prepare for: Scenario:5 fourplex properties = 20 units (average $900/month rent) - Looking for cash flow not necessarily appreciation for these properties$1.5MM in investment property debt (Average purchase price $300K; Market Value $400K)$500,000 equity across properties (Average $100K)Loans: Conventional fixed rate or seller financing fixed rateRental Income: $18,000Mortgage for all properties monthly: $10,000Cash Reserves on hand: $200,000 (separate from the equity in the properties)Reason for Scenario: My purpose in stepping away from a full-time job would be to start ramping up flips to pay down the mortgages over time.

In some cases the percentage of ownership can be higher if a unit has a better view even if the size and layout is the same.

"Market" rents and your rents may be based on very small things, such as floor plan layout, updates, other tenants (are kids always running up and down the halls making it less desirable?)

I found a house with an odd layout - it's a 5/3, but one bed/bath can only be accessed through another bedroom, or from outside through separate entrance.I'm looking at separating the house to create a 4/2 traditional rental and an attached 1/1 Airbnb.