Here are some key insights I’ve noticed:Tourism Growth: Indianapolis has become a hotspot for both leisure and business travelers, thanks to major events like the Indy 500, conventions, and sports tourism.

We could sell that house by itself, but it would be sold under a land in common agreement and an HOA would need to be formed.I also confirmed with the Public Works department that a 2nd driveway can go in, with a septic designer that there's room for second septic tank, and with the public water company that they can tap into the main water line from one of the neighboring roads.I'm sure there are some more details that I would need to iron out that the code officer didn't bring up, but the high level answer I was looking for is that my town does allow selling off a second house under the LD 2003 legislation.

Even if you have enough for a down payment and closing costs, there is always a chance the furnace or AC goes out the first time you try to turn it on (typically this would be caught by an inspector), or some major damage happens that insurance doesn't cover.  

@Sam FaasTypically homes need major work and do not qualify for conventional financingAs noted they are typically overpriced.

I decided to focus on creating niched list that I knew would probably beat out the majority of the competition. 

If you are doing major renovations that could change someone's opinion as to the value of the rental, then you should wait until those major renovations are complete.For example, if I were painting and replacing flooring in a couple rooms, then I would advertise now.

Every city has different requirements, I would contact the city directly, there's likely a division or department listed on the letter.

Pretty much all major components were newly installed / fitted and done to a tasteful standard (new metal roof, plumbing, electrical, kitchen, flooring, bathroom, doors, new hvac, decks, vinyl siding etc) and I have visited and walked through 3 times and even been under crawl space to inspect a repair that was previously noted on an inspection to the foundation after termite treatment which looked to be a good job.

Asbestos insulation around pipes.I'll try to think of a few more, but those would be the major ones.

If you can get insurance coverage and the local building department isn't giving you a hard time at all, then I'd say you're good to keep on moving forward with the deal.