Below is some copy & paste info about our methodology:----------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I've seen a lot of people try this, and they rarely use the home. 

@Kristin MathernI would pay it given no keys were provided, it wasn’t specifically addressed/mentioned in your lease, you were provided the opportunity to address/fix yourself with a 25-30 dollar replacement from Lowe’s/Home Depot, and lastly, it was an existing situation that could have been avoided/prevented at move in.

Also, the term "house hacking" is generally used for your owner occupied home (renting out rooms in your primary home) and that income cannot be used to help you qualify (it is considered boarder income). 

the value added versus cost to add, especially in single family zoned areas, typically results in a large negative initial position.  

you borrow a % typically 60%, pay back interest only with a ballon, 13, 14% plus 2- 4 points, Good luck 

If you're doing a rate and term refinance, there's typically not a seasoning period but again it's common for lenders to require it be rented first.If you're doing a DSCR cash out refi, it may not need to be rented first but you're probably paying a higher rate.Your best option is to call a loan broker you trust and go through the options based on your current situation.

So, we typically see REP status with MTR and LTRs... but not needed with STRs.

That's because the appraisals here are typically horrible. 

You can find solid single-family homes, small multi-families, or even short-term rental properties in high-demand areas like downtown Indy or near major universities and hospitals.Indy has strong rental demand, landlord-friendly laws, and a relatively low cost of entry compared to major coastal markets.