I’m a realtor and investor in Indianapolis, and I’d highly recommend adding Indy to your list of potential markets.

My concern with declining values, increased inventory and a weaker economy would lower rental income and could potentially put me into a negative cash flow situation.

You can then measure the cash flow impact versus the potential cash you would obtain upon a sale.

Since your basis was incorrectly set, you may be able to deduct up to $25,000 in missed depreciation, potentially reducing your 2025 tax bill by $7,500 at a 30% tax rate.

A lot of investors start with something that's turnkey with value-add potential.

It sucks being a situation where you want to unwind a sale or have to lawyer up and go after the seller.

Single-family homes offer higher cash flow, lower maintenance, and potential equity growth, but may have less privacy and slower unit growth.Good luck!

Does anyone know of any folks in the Austin, TX area available to show properties to potential tenants?

I think you will definitely want to talk to your lawyer because there may be items linked to this transaction you are not considering. 

I would recommend that you analyze the operating side of the business and the capital side of the business separately.On the operating side, you can use AirDNA to predict the potential income which is gross revenue.