We have one or two quality wholesalers that we are open to working with.

The current owner bought it for $30K and I know they had to clean up a lot of title work and started doing repairs. 

As an example I was looking at a multi unit, smaller building and within 90 seconds of viewing the proforma I saw the maintenance/repair figures were "low".

The Property Manager usually does light cleaning and repairs between tenants.Recommendations or another way to think about this? 

Is it a plumber that did a repair on one of your rentals?

----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

You'll get differing amounts and qualities of leads depending on the type of marketing, but also depending on who you're marketing to and where.

Focus on areas with strong rental demand, like Broad Ripple, Fountain Square, or near universities like Butler and IUPUI.Maintenance Costs: Indiana weather can be tough on properties, so budget for seasonal maintenance like snow removal and HVAC servicing.Additional AdviceKeep an Emergency Fund: Unexpected repairs or vacancies can arise, so having 3-6 months of expenses saved will help you weather any surprises.Build a Reliable Team: I have lists of contractors, handymen, cleaners and property managers if you'd like me to send.Good luck with your property and future expansion!

I like new construction since there isn't any deferred maintenance and the properties should be relatively maintenance free for the first couple years (although it's good to include maintenance/repairs in your pro forma and maintain reserves just in case). 

If the age of your equipment is older, or it stops functioning, those repairs can also add up.