How do you evaluate potential investments, and what role does financing play in your decision-making process?

It seems you have a great income already and a cash flowing property in Pennsylvania, so are you comfortable with something that breaks even and is an appreciation play or are you looking at purely cash flow?

The main play with turnkey rentals is appreciation and paying your loan down over time. 

Wherever you do invest, try and play by the rules.It can be a very expensive learning lesson which it looks like this will be. 

I know this is very ambitious, but I have always had big dreams (like playing D-1 baseball in the SEC).

@Conrado BalicustoMy thoughts for you…Long term holds are much less labor intensive than short term rentals.Cheaper C class rentals will let your investment funds to go further than buying A class properties.  

LTRs are usually a 'safer' play, particularly if this is your first real estate investment property.

General appreciationIf it is in a solid area, maybe the play is appreciation and then a few years later do a 1031 exchange to another, better performing property.With multifamily, typically you can't do STR, but maybe MTR?

We have been playing it safe but really would like to start investing in Rental properties as another source of passive income and to start building for our children.  

The market in Indy is less saturated compared to Texas, making it a great option for newcomers looking to build a solid portfolio without facing the intense competition.Feel free to reach out if you’d like to chat more about strategies, market opportunities, or just exchange ideas.