Rental rates and vacancy rates on single family have been a lot more stable.

Your new potential guests are insurance companies for homeowner displacement (flood, fire), buyers looking to move to the area but not sure where they want to be, sellers who want to sell but have nowhere to go, contract workers in the area, adjunct professors on a semester job, etc.

I still need to get more properties by using conventional loans and develop a more stable business credit before doing LLC. 

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Indianapolis has a very stable and diverse economy, be happy to chat with you.

In fact it may actually complicate litigation in the event a claim were to arise while adding additional insurance expenses to your real estate operation.To explain why this is the case I’m going to ask one very simple question: In the event a tenant dispute, premises liability, or any other claim were to arise, what prevents the Plaintiff’s attorney from merely listing your wife who it seems is the property deed holder in your fact pattern as a Defendant?

Thanks @Max Emory & @Jake BakerI am in the process of test driving Stessa to see if it helps with improving my efficiency on the property management side, including keeping track or insurance, property taxes, maintenance etc.

., laundry facilities, pet fees).Fixed Expenses: Include mortgage payments, property taxes, insurance, and property management fees.Variable Expenses: Include repairs, maintenance, utilities, and any unexpected costs.Capital Expenditures: Set aside a portion for future big-ticket items (e.g., roof replacement, appliance upgrades) as a reserve.3.

If you had to pick one state with the highest change of exploding insurance premiums over what they are now, other than maybe CA, it's Florida.

Lastly as an illegal unit it is  huge liability if there was a trip and fall claim, fire etc your insurance may not cover.I recommend renters insurance for whoever lives there is mandatory to add another layer of protection. last option not considered is you living in the bonus unit to have a free place to live with minimal risk