Here are a few things that I like about the neighborhoods in Indy compared to other states: high rent-to-home-value ratio, consistent and gradual city development, relatively low property tax and insurance cost, affordable renovation service cost.From my experience, it's possible to find deals that meet 1% rule if you invest in *turn-key* duplex or SFH here, but they are harder to find, and could potentially slow down you from scaling up.

I target pre-existing, non-conforming lots that town assessors have deemed unbuildable either through a land use code or a very low tax assessment.  

My last Tax Deeded Property returned 233% ROI.

It seems like every city, county, and state has its own rules, permits, and tax requirements for short-term rentals, and I’m finding it overwhelming to navigate all the different layers of compliance.For example, some places require business licenses, transient occupancy tax permits, or even special zoning approvals.

You are a high w2 earner, The house is worth 110k today, you are buying from your grandma for 60k in exchange for free rent for life, upside ARV of 200k.The costs of owning the house will help provide tax relief on your high w2 earnings, you are buying a great chunk of equity that will pay off in the future, and you and your grandma are doing each other solids. 

For instance, property tax & insurance expenses.

It is amazing how many times I have seen the cash flow represented as rent - PITI and to compound the issue they did not realize the ADU would increase their property tax.   

I don’t know how 2 people got 3 homestead exemptions but that seems like something the local taxing authority could catch pretty easy.

I’m told taxes and insurance is lot and will rise each year and cash flow is hard to come by.

So you have LP who makes investment then when it does not go right has no clue what to do @Chris Seveney then points out not only did they get wiped out but if there is significant cost seg taken there will be some pretty hefty tax due and the LP did not know if there was a cost seg or not..