Hi Edward, I have many OOS investors like yourself that are from California that have invested in properties in Indiana, mainly Indianapolis and Kokomo, plus surrounding areas.

If think you'll have capital expenses I'd factor those costs in. 

There are a lot of factors that go into this and a lot of levers to pull.If none of this works and the goal of the new purchase is to househack that property into an investment property, you may be able to use a DSCR loan to buy the new property as an outright investment property.

This investment was mainly for the new washer and dryer units in every property.

Some investors make it work by targeting less saturated areas nearby, but a lot of folks find more affordable markets out of state, which can make this strategy more feasible.Capital needs can vary quite a bit depending on factors like partnering, financing options, and property types.

I’ve been reading extensively on strategies to minimize tenant vacancies through smart investments, and I’ve come to realize that many other factors play a crucial role when managing rental properties.

I believe there are license allotments in many towns near and around Denver so you want to make sure there is a license available for the basement unit before you factor this into your cashflow plan.

With such low rental yields, the return on investment (ROI) and cash-on-cash (CoC) return are negative when factoring in mortgage payments only, not including any other factors.In this market, it seems almost impossible to make a profit using traditional rental property investing strategies.

The lock off doors at Banyan probably play a big factor in the pricing of those units as they offer the ability to rent the units separately. 

Steps 2 & 3 would be the main contributions of a Civil Engineer who is involved.