However, if you want long-term stability and predictable payments, refinancing might be a better option, especially for larger projects.

Here’s why:Affordability: You can find solid properties here well within your $200k–$300k budget.Cash Flow Potential: Indianapolis has a growing population, a diverse economy, and relatively low property taxes compared to some other midwestern markets like Cleveland.Investor-Friendly: Indy is landlord-friendly with strong rental demand, especially in neighborhoods near downtown, universities, and revitalized areas like Fountain Square or Irvington.If you’re open to a strategy involving light renovations, there are plenty of opportunities to add equity and boost rental income here.

A good property manager can help with tenant screening, enforce lease terms, and handle evictions more efficiently if it comes to that.Require a Larger Security Deposit: Within the bounds of local regulations, a larger deposit can provide a cushion in case of damage or unpaid rent.Consider Rent Guarantee Insurance: Some companies offer insurance products that can cover lost rent in case of tenant default.

Even with the renovated units it does not appear that there are enough prospective tenants to make this worth your while.

@Isaac Terry 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?

These areas not only offer reasonable purchase prices for most investors but also feature turnkey homes—either newly built or fully renovated, ready for tenants, with systems that still have 10+ years of life remaining, and property management teams in place.

@Dave Bobka @Justin Arnold So, if an investor is looking for a larger, family style home for a Section 8 tenant that is dependent upon public transit, this would be a great property, wouldn't it?

Renovations are almost complete and will be looking to rent out a unit.

However, have you considered partnering with someone a little larger in scale for a deal or two?

Investment Info:Townhouse fix & flip investment. 109 W 132nd St, New York, NY 10027, is a meticulously renovated brownstone townhouse situated in the heart of Harlem.