There are also a few important laws to consider; including, 45-day return requirement for security deposits, the eviction processes, and Indianapolis' mandatory inspections for single-family rentals. 

The idea is to convert a multi-family building into condos; but not in the traditional sense where you separate pre-existing apartments into their own condos; but in a way where you combine the common areas of all of the apartments in that whole building, and turn the individual rooms within those apartments into condos themselves; thus transforming the hallways, kitchens, bathrooms, living rooms, dining rooms, porches, balconies into common areas of the condos. 

The price point for a positive cash flowing single family house rental is typically 120-180k purchase price here so I am sure you'll be able to scale very quickly here with the capital you're working with.

We have anything from multifamily & single-family properties that are already tenant occupied to permitted lots, so it works perfectly to consistently have something that can close in 45 days or less.

Personally, I bought a 3 bed single family home soon after starting my job and had two friends from college rent which covered my mortgage plus a little extra.

Maybe also consider if they are "good people" that work in the community and just want a safe place to raise their family. 

I have flipped new homes and townhomes but phased out raising a family and now am focused on utilizing my skills which are building, selling, expanding a circle of influence to focus my effort on the above.

I’ve lived in my current single family home since 2020.

Hey brother, first off, I'm very sorry to hear about your wife, prayers and blessings from my family to yours. 

Quote from @Hares Najand: Wagner, is Werner Mercado family?