@Cheryl PepperBased on the very limited data you provided, I think you need to do a lot more due diligence.N Tuxedo Street is not anywhere close to Broad Ripple Park.The 46205 area code is pretty central Indianapolis, but you have a septic system - why are you even considering this?

@Alex Chin always has good advice, and I can't add much to this thread except my usual rant about data-driven processes... ie making your own databases from assessor data and tagging/marketing to desirable parcels.

A couple things though...1) Houston is updating their floodmaps right now, with the revised rainfall risk (Atlas 14 that @Eliott Elias mentioned) it is expected to increase the number of homes in the FEMA mapped floodplain. 2) The 500-year is misleading, it means that in any given year there's a 0.2% chance that it will flood, but this is all based off of past data, it does not consider climate change.

Your title company can also pull data for all cash sold transactions in your target area and skim them to show only entities in which the entity appears at least twice in 1 year.

Hello all,I’m a former corporate data scientist turned full-time investor.

Not that it will change the tenant's behavior, but we wold put it on the record with the tenant that they will be held responsible for rent and utilities, in accordance with the lease contract, through the end of the lease - or until the property is rented out again, whichever comes first.Hopefully, your PMC has their drivers licenses, work & banking info, so they can turn the data over to a collection attorney to pursue garnishment.FYI - most PMC's do NOT handle collections, so don't expect yours to handle this.

I have one but didn't get one until we purchased our 19 unit building.Personally, I wouldn't bother with the land trust (unless you are very worried about being annoyomous, which in this day and age our data is everywhere anyways.) and just quit claim into the LLC. 

Collect data on tenants/property and do your due diligence.  

In fact, I believe that you can screw up in the "best" market and "succeed" in the worst one because almost any region has opportunities and it is mostly about knowing how to read the map, analyze the data and work with the right people - not about picking the perfect place. 

There are many data points that are far more important than cap rates, especially for passive investors.