Hey @Keagan Scott, so I don't have any insight into Gary, IN but here is a blurb -"Those looking to rent out their properties for less than 30 days (about 4 and a half weeks) will have to get a permit, pay a one-time $150 fee, and have a city business license.

And before countering had a conversation to try to find out what's really behind the offers. 

I found a property in pre-foreclosure and need advice on how to clear the title in this case.Scenario:The seller wants out for the cost of his second (renovation) loan.

I strongly recommend a multifamily to start out when using a DSCR loan.

OK, how about this duplex: https://www.realtor.com/realestateandhomes-detail/4749-Richa...?

I recommend you discuss and plan this in depth with a local lender who knows your market well. 

Starting out, I'd suggest keeping it simple. 

My wife and I haven't leveraged the 10% second home loan yet, for us currently that is the most realistic path forward for current costs of properties but I'm unsure where and how we can pull that off, been out of the market for a little while so wanted to see what others are doing to make it work in this state as I want to get back into the game this year.Thanks

Thank you for the great information. 

Our clients have used 1031 exchanges very effectively when they have a property that turns out to not be the right fit for them.