It has been used as a STR for the last few years.

I have a long-term rental (LTR) in Avondale that I'm wanting to furnish and turn into an AirBnB/STR.

I'm a slow and steady wins the race investor that has little by little bought single family rentals (combo of long term, mid term, and short term). 

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

STR regulations are a big consideration before you make any big capital improvements specifically for short term stays, also running your numbers and making sure that your area offers consistent returns above what you'd get renting it long-term.

I’d be happy to share more about what’s working here, and we could explore if this market aligns with your long-term goals.Feel free to reach out if you want to dive deeper into what the Indy market has to offer.

. - Last but not least, help someone who might not know as much as you.

They also have Project Loans which are good because as long as your project is less than 6 months, you can pay it back with very little out of pocket during the flip.

The last couple months it feels like there is a lot thinner margin for error with flipping.

last house I closed for instance we put a Jacuzzi tub in so you need a door to get to the motor we left a note on the stud and sure enough sheet rockers rocked right over it.. buyer comes in and thinks we dont know what we are doing LOL..