The ARV is $121,000 Verified by my RealtorShe owes $20,000 more on the mortgage (I’ve seen the mortgage statement & will get verification as I sit with her when she calls them).She is paying $761 per monthThe average rent in the area is between $900-$988 (Rent-o-Meter)I think the repairs can be done for between $35-$40k (will get a quote from a contractor later) My wholesale fee is $10,000 (Negotiable to make it work)She is moving in with her daughter whose house I am also going to get under contract.

I've averaged between 300-600mo cash flow on this duplex Lessons learned?

That already separates you from the average wannabe investor.

The average 30 year mortgage rate is at an all time low - 3.29% through the past 50 years.

Once you grow to 3+ properties, wouldn't you be hurting your personal credit by continuing to open new accounts and thus lowering your average age of accounts? 

Another rule is that you never want to be the nicest house in the average neighbourhood.

So average Bank wont finance without any occupancy.

Of course it all depends on your strategy and business plan, just something to think about as you look at areas like Carmel where the average home price is approaching $400,000.I have heard good things about the Brownsburg school district but don't have any personal experience there.

n PV PMT FV Excel's Rate formula answer Rate x 12 78 6913.075 $182.92 0 2.14% 25.65% 42 2080.96 $109.09 0 4.37% 52.49% 89 5597.685 $135.79 0 2.01% 24.18% 81 8026.82 $207.21 0 2.10% 25.24% Total 22618.54 635.01  At an average APR of 27% I would buy those all day long....

If the rental real estate activity has an average period of customer use of 7 days or less, or an average period of customer use of 30 days or less with substantial hotel like services provided, it is not a rental real estate activity under IRC Sec 469 and one can bypass the per se presumption and apply any of the material participation tests you previously cited for a passive/nonpassive determination.