If any of the "Big Five" systems (HVAC, plumbing, roof, electrical, water heater) haven't been updated recently, they still should be budgeted, even if you expense them later.Also, if you're primarily buying for cash flow, then this seems like a whole lot of work for just 7.75% CoCR!

I bought a single-family home with a tenant in place, generating cash flow.

If your retirement utterly depends on having adequate cash flow from your properties, any downturns will cripple you.

With a low mortgage of $1008, i was able to rent this property for $2400 effectively cash flowing about $1200 per month.

And by turnkey, either going through a turnkey provider company, or if you're in Minneapolis, I'd imagine there are local cash flow options, so you could just focus on finding a property that's in good turnkey condition so it requires less work.

I want to buy a few more cash-flowing rentals in this area.

For my real estate investor friends, we have always underwritten our deals based on the deal cash flowing under current market conditions and not speculating on needing to refinance when rates are lower.

I would like to just rent it out for cash flow.

Time would be the biggest variable.Assuming the same repeatable services will have to be provided for STR & MTR, that are not provided for LTR, the costs may not be that different.Taking care of lawns, monitoring & paying utilities, taking calls, etc.Some services will be the same, but vary in frequency: cleanings, resupplying amenities, responding to inquiries, bookings, granting access, etc.

Alongside acquiring rentals, I'm interested in establishing a service-based business within the real estate niche, potentially offering maintenance or renovation services.To make the most informed decision, I'd appreciate any insights from experienced Indiana investors on:Top Indiana Cities for Long-Term Rentals: What cities offer a strong rental market with factors like stable vacancy rates, positive cash flow potential, and opportunities for property appreciation?