If there's one thing to be aware of, expect the unexpected.

I was seriously considering this one too.

@Kris Lou Be careful with agents as 95%+ of them really only know how to handle owner-occupied transactions.We don't do biz in Indianapolis, so this is unbiased info we hope you find useful:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

One more thing I should address:  Installing cameras inside of a residence with other tenants can be a HUGE legal violation.  

One bad situation can harm all the properties.

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

If you have a good FICO, a decent down payment and closing costs, go ahead an do the first one. 

Stop investing time in workshop, and actually go out and look and work for deals.

There are cheaper one’s in D/F areas but I would be careful as those can create a laundry list of additional issues.

Plus the street isn't a busy one.