You will never know the right number until you have a chance to inspect and get contractor bids, which will typically happen after an offer is accepted. 

I also have a neighborhood map and contractor spreadsheet that I can send your way.

He has lived here his entire life, and knows the area very well, and he is a general contractor and has been remodeling homes in our area for 20 years.

I haven’t done my first deal yet, but through hiring a local contractor to build my personal residence I had this idea that I don’t hear people talking about.

I believe many believe they can assemble a team of realtor, contractor, property manager and lender and become profitable.

Sri,Are you a General Contractor/Builder or are you simply looking for financing to build a 2-4 unit?

Focus on areas with strong rental demand, like Broad Ripple, Fountain Square, or near universities like Butler and IUPUI.Maintenance Costs: Indiana weather can be tough on properties, so budget for seasonal maintenance like snow removal and HVAC servicing.Additional AdviceKeep an Emergency Fund: Unexpected repairs or vacancies can arise, so having 3-6 months of expenses saved will help you weather any surprises.Build a Reliable Team: I have lists of contractors, handymen, cleaners and property managers if you'd like me to send.Good luck with your property and future expansion!

Hey Chandler, I'm delighted by your presence.. how do you feel about building a team of trusted contractors?

Hey There @Dominic Campelo - I am also a fellow General Contractor here in Chicago!  

I should also mention we shut off the breaker (to the garage) after confirmation from two electricians and our contractor that we had a serious fire risk.