I’m Keagan, a realtor and investor based in Indianapolis, and I’ve worked with several clients on value-add multifamily deals and have done a couple myself.For finding off-market opportunities, I’d recommend:County Tax Delinquent Lists – Great for uncovering distressed properties.Direct Mail Campaigns – Target out-of-state owners.Local Networking Events – Connect with wholesalers who specialize in multifamily.I’d be happy to introduce you to lenders and share leads if Indy is on your radar.

Certainly contact the HI and see what he has to say....you may not get far but worth a try.On the other hand, you mention 'exposed wires'....where are they?

You don't know if they actually deal with thousands of lenders, or if they deal with a couple and this is their scheme to get your money and then get another 2% origination fee. 

Focusing on A-B areas and taking a hands-on approach definitely helps with maximizing cash flow and equity.

Book recommendation #1: Hands Off Investor by @Brian Burke https://store.biggerpockets.com/products/the-hands-off-inves...Book recommendation #2: Lend to Live https://store.biggerpockets.com/products/lend-to-livePodcast Recommendation: PassivePockets podcast is focused on passive investing in syndications - https://passivepockets.com/podcast/Passive investing summit: PassivePockets Summit May 2-3rd in Columbus https://get.biggerpockets.com/passivepocketsevent/I make these recommendations specifically since you mentioned passive real estate investing, and syndications or hard money lending are really the two most passive ways to invest in real estate. 

Given statement of condition, I would think value-add is the opportunity at hand.

The operator is taking all of the risk in purchasing and rehabbing the property, handing it off to you fully rented and hopefully in good condition where there are little to no maintenance expenses at the beginning. 

Are you a hands-on type that can make improvements to a home or prefer to contract out work?

I have a house three hours away and once a quarter I do the 3 hour drive, I'm there a couple hours, meet some good friends for lunch and drive back... it's a nice day!

The best contractors don’t just throw their hands up when issues arise; they come up with solutions and keep the project moving forward.5.