I cover Indianapolis and the surrounding ~30 miles and have clients doing both strategies.

The truth is you have to decide what type of homes you want to invest and what investment strategy going to look like.

Sellers motivation shouldn't factor in what you can afford, thats a bonus if they will negotiate, but your numbers have to make sense to you and work out for multiple exit strategies (str, ltr, sell etc)Running the purchase numbers is pretty straightforward, use almost any online mortgage calculator, make sure you know taxes and insurance (taxes will go up a bit if it is currently owner occupied and you don't plan to live in it) Once you know your mortgage amount then start looking at other STR's in the same area and same size/amenities and see what they are getting per night and how many nights a month they are rented to calculate what you MAY be able to get.

Here are two real world strategies that I used with my clients:Success story AStep 1: Bought a condo for $175,000 in 2013 in an up and coming area that cost less per month than market rent.

Being aware of your multiple exit strategys is important to know going into deals.

If I have some insight into the general strategies of how to do what I am asking (which is what I was trying to get asking these questions) it would help me during that conversation.

Look at their marketing strategy.

Your strategy of converting the garage into an additional dwelling unit (ADU) and using the property for short-term rentals (STRs) sounds like it has paid off well, especially given the unique aspects of the property and its location.Your approach to identifying a unique investment opportunity that was overlooked by others, and your patience in securing the right deal, are key takeaways for anyone looking to invest in real estate.

Homeowners can rent their house to individuals looking for vacation opportunities or they can rent their house to a business owner who intends to use it for business purposes.Shifting Income from Your BusinessIf you are a business owner and do not use your home as your primary place of business, employing the Augusta Rule can be an effective strategy for moving income away from your business and shifting it to personal income, where there would be no tax consequence.For example, as a business owner, you host a monthly meeting with your Board of Directors.

I understand everything is a trade off so I am open to diversifying markets and strategies to find what works best.