Here are a few things that I like about the neighborhoods in Indy compared to other states: high rent-to-home-value ratio, consistent and gradual city development, relatively low property tax and insurance cost, affordable renovation service cost.

So I'd start where you could buy the average home in the metro area and then look at average rents and start looking at that.

I get a lot of questions about housing vouchers and how you determine rent amount allowed.

It wasn’t how I wanted to kick things off, but I worked with a contractor to get the bathroom fixed and functional.Once that was behind me, I focused on improving the building and maximizing income:I installed a shared washer and dryer for the tenants, a major upgrade that added convenience and increased the property’s value.I rented out the two garage parking spaces, bringing in consistent revenue.I also raised rents for the second- and third-floor tenants I inherited to be just below market-rate.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Also, I'm seeing rents in that area for that size property that top out at $2,100.

Pros - guaranteed rent, tenants stay longer on averageCons - more mgmt needed (lease violations), they tend to not take great care of properties (increase maintenance expense or deferred maintenance)

My brothers and I rent an inherited family house.

I rented to ACU students and used the rent by the room method.

I have about 4 doors here in Columbus, Ohio in Hungarian Village and Southern Orchards that are renting about $1375 a unit for 3 bed/1 baths.