Quote from @Robert Frazier: It's a banner week for our fledgling development business.

Could have been a visiting child.

You know that the best investor-clients, we develop a partnership with and camaraderie over knowledge and a will to work in their best interests.

Hopefully, based on actual field measurements, past project data, and estimating software, your contractor can develop a detailed estimate that lays out the cost of labor and all materials for each phase of the project.

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.From my experience, it's possible to find deals that meet 1% rule if you invest in *turn-key* duplex or SFH here, but they are harder to find, and could potentially slow down you from scaling up.

This can help you gain experience and start to network and develop a team of people who can help you invest in future deals.  

What is the experience of the group at performing this sort of development?  

Oh also number one skill to develop regardless of the route you take is being able to identify and get in contact with motivated sellers.

And our flagship development US item, Japanese style toilets in the USA..... ai powered!

For a more general philosophy on hospitality, especially if you are going into the higher end STR space I would recommend Four Seasons: The Story of a Business Philosophy by Isadore Sharp about the founding and development of the Four Seasons brand.