When analyzing investments, factor in potential vacancy rates and repair costs to estimate reserve needs, considering unexpected expenses like appliance replacements or eviction proceedings.

While the 4.9% Cap Rate may not be high, it may be fitting for the risk/area.

-What are the interest rates and how do discount points affect those rate?

Getting large quick doesn't mean you can stay large.Regarding their historical returns, everything they sold was before interest rates started rising, so their claim of "$0 investment lost" may be more a function of timing than skill.I'm mostly curious about their massive 544-unit which was bought at about the worst possible time. 

They currently manage over 650 rentals in Memphis and are growing rapidly while still keeping their vacancy rates super low!

I can tell you the majority thought this year was going to be a landslide victory in hopes of interest rates going down by March.On top of that, another big flaw I find is agents not knowing how to properly comp houses and run numbers.

most states you need to have a Brokers license to do that. as @Linda Weygant had mentioned, you are now taking passive income and turning it to Earned income where you will be paying self employment tax, insurance for the co. and possibly a higher tax rate.

While the BRRRR strategy can be highly effective in the right conditions, the current market conditions in Indianapolis (characterized by flat rent prices and high-interest rates) pose significant challenges.

I have a 30-year fixed interest rate of 2.8% with a monthly PITI of $1,000.

The loan will be a conventional investment loan that will require 20% down and about a 8.5% interest rate.