One of the biggest challenges for everyone involved is being on the same page about the actual time required for maintenance.DIY landlords rarely properly track their time when it comes to property management in general - tracking their true time invested in maintenance is where they perform the worst.Investors that hire PMCs are rarely any better at understanding the true amount of time maintenance takes.

Many of those properties don't actually produce income due to turnovers, vacancy, maintenance and damages and you're lucky if they appreciate enough to keep up with inflation.

You can end this by showing them an actual utility bill.

Actually you'd never hit that because eventually the debt pushes you into a margin call and forced sell and you'd be at or near $0 in just handful of years at best. 

I was referred to the actual developer, Rebar Development, by City of Fishers and am waiting to hear back from their Corporate Counsel.

Looking for any input or advice on how this strategy actually works.

We mostly buy off market now but I remember that is actually how I started investing, by flipping foreclosures. 

My husband actually did this when he became a realtor and the process was very simple.  

It's a more affordable market and lower property taxes, so you may actually have a chance to cash flow.

Quote from @Fernando Corona: @Erik Estrada I actually wrote a blog on the topic and will continue to write about it.