Currently, I have about $20K left on mortgage and estimate value is$175K.

Be sure that you are honest from the jump, your estimated rate are only as good as the info you give them.

This increased the time required which ended up costing others clients promptness.

They also know about real estate so less likely to charge you extra fees to get an appraisal or BPO because they can estimate the value themselves.

Make sure to analyze cash flow, including conservative estimates for vacancy and maintenance.Indianapolis Market: Indy has solid multifamily options in neighborhoods like Irvington, Fountain Square, and near downtown.

If so, the 1007 will provide a rental income estimate that could be used to structure the loan as a long-term rental rather than a short-term rental.

Hopefully, based on actual field measurements, past project data, and estimating software, your contractor can develop a detailed estimate that lays out the cost of labor and all materials for each phase of the project.

I was wondering if there would be any advantage creating a LLC or business to pay for the renovation costs.

When I'm figuring out how to price an Airbnb I always cross-reference AirDNA or PriceLabs to get an estimate on what the income would be.

Airdna will give you a good estimate of the demand for the area.