Here's a short synopsis on Indy investing (as a realtor with 150+ transactions & 12 doors in personal portfolio): - Indianapolis has all the right metrics for a stable investment: average appreciation 3-5% per year, consistent population growth, low unemployment, highest % of GDP growth last 5 years of any Midwest city. - Indianapolis is VERY competitive in the fixer-upper & multifamily realms.

Look pretty good, bulbs every 2 feet and a 4.5 star rating average.

The average life of a company is 10 years.

On a 10 year lease, this averages to approximately 4.4% of the total rents meaning that a space that leases for $100,000 per year in base rent could have a leasing commission due of $45,000 to $50,000.

Making average assumptions, will vary from location to location but premise remains the same.Income: Each side of duplex rent $1500 total rent $3000 per month.  

If those doors average $1k month income, that's $30k/month.

From my part, I analyze the property's location, neighborhood growth, appreciation factor, the average rents using some paid tools, and crunch some numbers for them to let them know the CoC return, cash flow, and more etc.

This has reflected positively in mortgage rates with the average 30 year fixed hovering around 6.84% and down from nearer 7% just one week ago. 

The implication to the LL is that in virtually every market the average purchase is cash flow negative.  

If you want to underwrite a deal conservatively, you should in theory look at the average short-term rental income and occupancy rather than the top, especially if you're starting out.