I would greatly appreciate any guidance or experiences you can share to help me make an informed decision.

Hi Karla from Montreal, Canada-You ask an interesting question.Should your first real estate investment be new construction, since you and your partner have construction management experience, or flipping an existing home as you originally thought you would?

Challenges and Opportunities Unique to IndianapolisSeasonality: Tenant interest tends to slow in winter, so try to avoid vacancies during those months.Diverse Neighborhoods: Indianapolis has varied sub-markets.

Lesson learned by me and my first experience with a PM website.

.: Anyone with experience (and/or referrals to lenders) with non-recourse loans?

When you finance through national lenders, in your experience, is a balloon a common requirement for commercial loans of this nature or is it possible to get a fixed rate for 30 years?  

If that's the case, if it's a flipper with zero development experience, no way would I have any interest

My day job is being a financial professional, so I have good experience with underwriting and sales that I believe can be translated to real estate.

I work with a lot of househackers and they're typically on the 12 month cycle, rinse and repeat.While the proposition of acquiring an investment property outside of your market in a "landlord friendly" state may sound appealing, i would recommend you stay local for now and househack another couple of properties over the next few years until you've got some more time / experience under your belt.you would need a management company to cover your property that is outside of your market which would not only take 8-10% of your gross it would also leave you a bit vulnerable to a property management company that you A.)know nothing about and B.)you won't have the experience or cashflow or proximity to deal with any headaches that may arise.i would recommend staying local and househacking your way along for now and then maybe hire a local property management company initially to work with your current/local properties to get a taste of what to expect if and when you begin investing outside of your market.

I worked with one and that experience is the reason I now own my own PM company.