These rates can get very high, but access to more lending unsecured if needed. 

Unfortunately, Covid decided to change my plans, and I made the decision to hold off, in hindsight it was a huge mistake and no one could have imagined that property values could have increased at such a high rate.

We have a high saturation of rentals that has caused the market to lose money. 

I think it is fair to say that there is somewhat of a tradeoff between markets that provide positive cash flow on day one and relatively high appreciation-based markets.

These homes may be dated, but they can be decorated to a high standard.

I realize I don't have the actual NOI, but that price sounds super high for the gross income you're stating in your narrative.

I’m a realtor and investor in Indianapolis, and I’d highly recommend adding Indy to your list of potential markets.

Quote from @Nicole Heasley Beitenman: When I was starting, I found a resource in FF that suggested pricing $300-500 above LTR rates.

I looked at their booking calendar one time and thought it was pretty empty.I guess you don't know until you try...and probably depends on if you want high occupancy or high rate?

Typically the Midwest if you’re looking for cash flow we like 2% price to rent ratio.