I've done a local renovation and I wouldn't do a BRRRR in Indy after a few attempted offers. 

Be sure to fill out your profile as many of us use it to try to offer better assistance.Happy Holidays!

I don't have the room to add a Washer and Dryer, so I'm trying to come up with a solution that I can offer.

I appreciate the insight that you and John offered regarding the lack of value in the business itself and strictly the land + improvements.

With a 40% expense ratio, the DSCR is approximately 1.21Hindsight Critique•Continue to build relationships to increase deal flow•Property manager (Mercer Hughes) is critical to completing renovations and quick tenant placement•Continue to build relationships with private lenders and personal investors•Have cash available to make quick competitive offers

However, exploring out of state markets could offer stronger cash flow upfront, so it’s worth evaluating both paths.A piece of advice would be to focus on building your core 4  team: agent, lender, contractor, and property manager.

I plan to continue to invest in a mix of both RE syndication and our own rental properties going forward depending on what makes the most sense and offers the best returns. 

Quote from @Jefferey Eutsay: I'm considering making an offer on a 36-unit multi-family property.

Quote from @Jacob Hafer: I do not offer streaming services.

I would suggest shopping it around a little more until you find a lender that offers reasonable terms and has a positive reputation.