We both have experience in these types of issues and we are local to the Indy market.

You’ll want to get really familiar with local zoning laws, short-term rental rules, and landlord-tenant laws as they vary by town if you plan on going the STR route.Focus on Cash Flow Early On: You might be tempted to go for something that appreciates quickly, but in the early stages, it’s important to find properties that bring in cash flow.

The story was she rented the place in the 1950's, under rent control then under rent stabilization laws.

The only issue I've had is a small period where the laundry pods would always be empty at turnover. 

I am also a huge believer that with massive affordability issues in cities people will start to migrate to smaller towns that they can afford.

Those stilled cashflowed mostly due to insanely low interest rates.3) Investors started chasing Class C rentals in 2022 when Class B rental prices AND higher mortgage rates didn't allow cashflow at purchase.4) Investors are now chasing Section 8 tenants as the cure-all for Class C tenant performance issues, so their Class C properties ACTUALLY cashflow.

Specific technical issue that triggered this post.

My developer client successfully defended the initial challenges and settled on this having PE rights, so he shifted the site plan to avoid the issue.

Basically common contract or agreement law.

But structural issues can kill you.