I am paying a bit over market rent for the high season but I'm fine with this because of the proof of concept of the Airbnbs that are near me in the neighborhood also it is my first Airbnb Arbitrage property beggers can't be choosers haha.

I am currently living in Houston, TX and have experience with rental properties and flips in this market, but I am inheriting an older home in Greenfield, Indianapolis. 

Over the last (3) years I have seen some extreme cases of expedited equity where an investor buys an older home or "Ugly Inventory" and then bats clean up on the ARV in 12 months.To give you an example I helped an investor refinance her home in 2023 pull cash out to buy a $65K home all cash.

.- Generally landlord-friendly state, no rent control- Secure government jobs/contracts make the real estate market much more resilient to recessions / major corrections- 15-minute drive to the Capitol of the United States- 4 Seasons- 15-minute drive to Arlington, Virginia (Amazon Headquarters 2 ((2017 announced, 2030 is bringing 25,000 new high-paying    jobs to the area)), Boeing Headquarters (2022), Microsoft Headquarters (2021), CoStar Headquarters (2024), Bloomberg    Headquarters (2017 expanded), Deloitte, and the list goes on)Thesis:Although more companies continue to go back to the office, there will be a shift toward a good amount of workers being able to be in hybrid roles.

Air conditioned air leaking to crawlspace making crawlspace heat or cold depending on season causing more power bill to tenants.

(Now that is quite the acronym soup there)Central Tucson is older and can have some great style and character options.

Quote from @Matthew Paul: It would make more sense to build with concrete or block and have tile or metal roofs than standard stick built with asphalt shingles . tile has been the go to roofing material in CA for many years now.. its the older homes where NON fire retardant cedar shakes were so common.. that's just fire starter material as it ages out.

He approached me like a gentleman and expressed his valid concerns. 

As far as nepotism, yes, I'm the older brother of the CEO. 

Second - a DSCR 30 year fixed perm loan to refi the hard money loan and hold onto long term.What others have replied to is completely accurate - it is hard to accomplish BRRRRs right now due to the DSCR refi constraints (interest rates, LTVs and seasoning periods), however, not impossible.