Also, make sure to connect with local contractors to get estimates on your prospect properties.

All of my flips have been in DFW since that's where I have found a great realtor and contractor to work with.

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!

I think if you are going to keep all three parties involved as owners of the deal long term then you need to separate yourself as a renter and a contractor.

Where single family rentals weren't exciting to me, building and developing land and redeveloping old spaces really intrigued me.

Who are their architects, engineers, and contractors.

The deeper your market knowledge, the stronger your relationships with agents, contractors, and lenders, and the better your deals will get over time.

Well, this my opinion, if you like unpredictability, constant change and people/contractors with no regards to you or your property then "YES" flips and STRs are the way to go...LOL....I love it!!! 

You may have to search a bit for the right contractor or engineer - sometimes I see one solution dominating in an area - "that is how we always do it" 

Your contractor -2.