I’ve been helping investors, many of whom are new to real estate, get into cash-flowing new construction duplexes in Indianapolis.

However, if they do, they are likely just 'okay' with it and would likely leverage the 10-07 market rent analysis on the appraisal to actually calculate and determine the official DSCR during Underwriting.Hope that helps, if you do have a tenant who is willing to be flexible, the 12 month is always the safest bet.

But if you are going to buy one, make sure it is new construction or recently completed its 40 year inspection.

It sounds like you already know how to market/find properties for your construction work - leverage that same skillset to find flips.You have an advantage over most beginning investors in that you know more accurately what the rehab costs will be for a certain project.

I utilize these products but more for commercial multifamily where they build in an interest only period, 30 year amortization schedule, and the bank funds as much as 100% of the construction costs.

(pretty good bet things aren't going to 2% any time soon)We have wound up restructuring several notes to our benefit because the owners were really happy to have the income immediately

Additionally, national lenders like Chase and Wells Fargo have strong multi-family loan programs that cater to out-of-state investors.Scaling OwnershipGiven your available cash and equity, here are a few strategies to consider:Leverage Existing Equity: Utilize the equity in your current properties through a cash-out refinance or HELOC to increase your purchasing power.Partnering with Other Investors: Consider syndications or joint ventures, which can help you scale more quickly without using all your own capital.Diversify Markets: While the Midwest is great, keep an eye on emerging markets across the country that may offer similar benefits.Focus on Value-Add Opportunities: Look for properties where you can increase value through renovations or improved management.I specialize in selling new construction duplexes in downtown Indianapolis, and I’ve found that multi-family properties here provide strong returns.

Your best bet would be to bring in an equity partner

I have done different developments in the past, but do not have a proforma to fit the type of rent/construction for flex space.

I think that your best bet is to offer the Holder of the Contract for deed some sort of discount if they refinanced out of the contract for deed so you could get your equity, short of that I don't think you have a lot of options.