I remember working with a friend who inherited his aunt’s home.. he got so caught up in the emotional side of it that he forgot the nuts and bolts..like having a good plan for the renovation budget and timeline.

There are several 4 plex properties under 1m and a nice 3 plex, fully renovated for 900k.

There is the risk carried by the turnkey company during the renovation and being able to find quality residents for the home and ultimately the investor and at a rental rate that makes sense.

But, this house went under contract in 3 days for $20k over ask, with multiple competing offers, in an area where the average days on the market for newly renovated flips is 100+ days! 

Repair costs in first 1 month of owning (this is renovated house done by seller, not me.

Renovated the basement unit, new roof, new soffit/ facia, new gutters, new exterior paint that was paid for by seller.

I plan on doing most the renovations myself which requires equipment (such as tools).

Here’s why:Affordability: You can find solid properties here well within your $200k–$300k budget.Cash Flow Potential: Indianapolis has a growing population, a diverse economy, and relatively low property taxes compared to some other midwestern markets like Cleveland.Investor-Friendly: Indy is landlord-friendly with strong rental demand, especially in neighborhoods near downtown, universities, and revitalized areas like Fountain Square or Irvington.If you’re open to a strategy involving light renovations, there are plenty of opportunities to add equity and boost rental income here.

You'll learn a lot just from starting out like that with little to no experience at all (cosmetic renovation cost, managing current tenants, leasing out a unit).

If they were only there a month you could re-rent easy with little to no turnover renovation.