House have good layout, good area, great schools, price point was fair for that area.

Hi All, any input on renovating a house and possible tax exemptions under an LLC?

We plan to stay in this house for more than 5 years unless another great opportunity arises, but maybe it is best to allocate a bigger portion of savings to our real estate investment savings account than our home improvement savings account for the first few years.

It’s just like having your 5 houses, only all in one building.

Also if you have a single-family house already sometimes loan underwriters don't approve you moving from a single-family to a multifamily.

@Brody Trott You can not got wrong with House Hacking.

The neat thing with TDR is that, after you've sold off the residential development rights, you still own the land and get to use it in all the same ways as before, except that you can no longer build houses on it.

I would like to pull out equity from the homes to build either a house on each or an ADU (they are zoned multi-family) depending what makes the most sense on returns and what is feasible.

You could also buy a single family property that you can either fix and flip or house hack.

Your plan to house hack a multifamily property in Indianapolis is a great strategy to start building equity and learning the ropes with manageable risk.