Part of me feels like just letting the bank take it back and then paying cash for things for the next decade.Thanks for your feedback.

Please feel free to propose others.

I also feel this looks not great because of 7.3% interest rate but also I made it so conservative since I didn't take vacancy rate into account. - I am aware that possibly I need to negotiate the asking to 480k to match 1% rule but also not sure if that's convincing enough.  

Make yourself familiar with different markets - I personally recommend taking a look at Midwest markets like Columbus OH because of great macroeconomics and cheaper price points.

Hey there Adam, the Broad ripple area is a really good pocket to look at like you said. personally I like the East side of Indianapolis like 46201 for flips.

That is better than nothing…  If you’re comfortable, feel free to DM me the address and I can look it up for you!

No matter how well the home is designed and priced, vacationers will click away as soon as they feel like a host is inflating costs. 

We’re looking for any advice, personal experiences, or tips that could help us navigate these decisions.

Feel free to reach out anytime and I'd be happy to send you the details and connect more about REI!

Unless you are planning on acquiring 2-4 units with FHA financing, it is generally a bad idea to hold an apartment under your personal name.