One is a 4plex in Fountain Hills (suburb of Phoenix), the other a duplex in Phoenix. 

I am a Deputy Sheriff in Fountain County and invest in rentals and flips in the Covington area.

@David Rutledge Indianapolis STR's perform decently year round in the Downtown, Broad Ripple, Fountain Square and Mass Ave areas.

The neighborhood (Fountain Square section of Indy) is gentrifying with lots of building and rehabbing.I am in NJ and currently have one investment property (commercial and two residential units) that I manage myself.

Garrison,There are a lot great neighborhoods in Indianapolis that would be great for house hacking such as Greenwood, Plainfield, Avon, Fountain Square, and neighborhoods around IUPUI and Butler.

Bates or Fountain [Solicitation Removed by Moderators]

While the prices seem great I am having a difficult time getting comps so what looks good in comparison to my market may not actually be good in Indy.How would you classify the following areas (still researching which hundred blocks to focus on):Fountain Square: Laurel St, Spruce St, Woodlawn Ave, Lexington Ave, Pleasant St, Linden, Prospect, Orange, in FS but near it Reid Pl, S State StBates-Hendricks: (400-600 block) Wright St, Terrace St, Cottage Ave, S East St, 1400 block S New JerseyBroad Ripple Village: (East 60th St to 67th) Burlington Ave, Evanston Ave, Crittenden Ave, Norwood Ave, Kingsley Dr, Ralston Ave, Primrose Ave, Rosslyn Ave, Indianola Ave, Haverford AveButler-Tarkington: Still researchingMedian-Kessler: Still researchingI am not opposed to low income cash flow properties in certain areas in 46218 Center NE.  

I was thinking of using the "dining room" area as a space for 1 or 2 [used]: foosball, bumper pool, "table top" [4 ft x 2 ft] pool or small air hockey.

I just did a quick search for the galleria area and analyzed one place. (2121 Fountain View Dr)LP: $85k (5% DP, 4.5% interest - $400/mo)Taxes: 2.5% on $45k ($1125 - $100/mo)Insurance: assume $100/mo (I have no idea what townhome insurance rates are, but you can get quotes before you buy)Mandatory maintenance: $300Vacancy: $100/mo (based on monthly rent of $1200)Repairs/capex: $100/mo (Built in 1968, I would expect to make some repairs)Management: $120/mo (10% of $1200)Total monthly expenses: $1220In the same area, I saw a place listed for rent for $1200 (824 sqft), which is $1.45/sqft.

Purchase price: $85,700 Cash invested: $55,000 4 bed/2 bath duplex south of fountain square.