Great stuff.

These low rent properties would more properly be categorized as D I think.Anyway, I did see some stuff I liked in Indy from https://indyrei.com/ and http://parcpropertygroup.com/.

They don't teach any of that stuff at Hondros. 

That's excited stuff going on in my city for sure!!

Your rehab is 14k for all of that stuff - sounds a bit low.  

Good contractors can be hard to find.Here is my advice.I have had great luck finding them at our local real estate investor meet up group.I agree building supply centres can also be a good source.In my experience it is easier to find people to do a big job, rather than small ones.What I have done is formed relationships, where I give them a good big contract and in return they do the small stuff for me.I also have a couple of handyman type people on my team.They are usually doing repairs on the side, often for cash under the table.I only trust the small guys with minor stuff, maybe laying a floor, or replacing a toilet.The key is to build a solid team, do not nickel and dime them, pay them as soon as the work is done.Build a win win situation.

If they don't know how to arrive at sufficiently good answers - THERE'S their answer! 

I attempted to do an NPV calculation for the property using its market value and projected cash flows for the next 20 years and arrived at an NPV of approximately $235,538. 

It's pretty cheap, and he knows his stuff.

Good stuff man I wish you the best and happy investing