The house is in bad shape, needing around 35-45k in repairs. 

It’s a great house, fairly new (built in 2015) and the neighborhood isn’t bad.

I just closed on a 16 unit and looking for my next one.In a great market, there are a lack of deals but tons of moneyIn a bad market, there are tons of deals but lack of money.That said, when you want to buy a 10, 30, 50 unit MF property, banks will ask - do you have experience buying and managing properties. 

That said, when the market got bad, it wasn't terrible here ... life is all about balance, right?

I do know that neither would put the LLC on the mortgage because they needed the individual to be responsible if things go bad.   

I added 3% which is on the low end.Management - I will be managing this property myselfThe property taxes were calculated by taking the (2017 county assessment * .95 tax rate) = 1186.00Is the below cash-flow and cash on cash ROI good, great, bad or ugly? 

People tell me you need to buy properties in really bad shape to flip profitable.

I am originally from Indianapolis and I know the area very well...anything I see on Loopnet over 8 cap is either in a bad location or in need of significant work. 

This is an opportunity to rage against the latrine and share some cheeky humor while dumping on bad tenants.Butt seriously, just roll with it until we're flush with pictures!

So you have to take the good with the bad.