Total rent should be $800-900/month.After inspection major issues we found were:-gutters/downs need replaced, drainage run away from home (water in basement)-chimney needs tuck point at minimum, bricks falling off-mold growing in basement (big chunks of white growth along all wood)-cosmetic work about $2k to upper unitSeller wanted $14k, we offered $10k due to the amount of work we need to put in.

My concern is by using the HELOC as mentioned then applying for add'l conventional loans as we grow our portfolio how will this impact our ability to continue to get funding from the banks?

Either way you end up growing in the end.  

I would definitely talk with someone who currently lives in Indy as there are many different areas rapidly growing that only someone living here would have their pulse on. 

Age, condition, and lease terms make this the jewel of the area - can't be beat!

My plan is to be financially independent by the age of 30. 

Affordable prices and booming economy and GROWTH:The region has been Virginia’s fastest growing for five consecutive years, with a population of 338,000.A highly skilled and expanding labor force of more than 1 million resides within a 40 mile commute.Strategically located just 35 miles south of the nation’s capital and 35 miles north of Richmond, capital of Virginia.Over 47 miles of Interstate-95 serve the region, carrying 120,000 cars per day.Excellent rail service is easily accessible, including Virginia Railway Express’s commuter service and Amtrak.

Hello to all who take the time to read! I’m making this post because I’m very eager to start and finish my first fix and flip deal! I have some liquid capital, not much $14,000 to be exact, I know as a new investor ac...

the cons of this building is that it has tenants that are smoky and stayed there for long time, some of them are paying through government assistance which I really don't know if this would be a bad idea or what, the unit that might fit our growing family as we are now three and expecting a baby soon!

I am also interested in out of state investing in emerging/growing markets.