If we rent the unit at $1,425, I have an estimated monthly cashflow of $302 (rent at $1450, cashflow is $325) I DO include vacancy, repairs, and cap exp in my Box2 Expenses.

I left that job to join Roche Tissue Diagnostics where I repair medical instrumentation across the Midwest. 

This isn't always the case, but in general, I've found Section 8 homes tend to require more frequent minor repairs.

This being said, I don't believe we'll be able to meet the income requirements to qualify for a conventional.This leads me to believe hard money or private lender is more the only option to get my foot in the door, use my business to make repairs at very good rates, build some equity then refi once the balloon is due. 

I've been an excellent student of calculating repair costs and ARV.

This meant I couldn’t pursue the driver personally and had to rely on their car insurance, which settled for $25K—their maximum coverage.Unfortunately, the crash added $77K in unexpected costs, including $41K in repairs and extended holding costs.

If you can rent 3 units for $2,000 you are close to breakeven.On the plus side, you will have a highly attractive asset and several decades without much cost of capex and repairs. 

So this is mostly in reference to us doing our own repairs, not necessarily looking to hire other people.

Hard Money will usually finance 90% of your purchase price and 100% of your repair cost up to 70 or 75% ARV (after repair value).

Focus on areas with strong rental demand, like Broad Ripple, Fountain Square, or near universities like Butler and IUPUI.Maintenance Costs: Indiana weather can be tough on properties, so budget for seasonal maintenance like snow removal and HVAC servicing.Additional AdviceKeep an Emergency Fund: Unexpected repairs or vacancies can arise, so having 3-6 months of expenses saved will help you weather any surprises.Build a Reliable Team: I have lists of contractors, handymen, cleaners and property managers if you'd like me to send.Good luck with your property and future expansion!