I’m excited about this journey that I am starting to pursue and I look forward to working with some of you in the near future.

Readjust your expectations.

Get this:He worked for the town of Chapel Hill and convinced people he had insider knowledge of development plans for future real estate deals - and would ask for money and get them to sign a NDA. 

Remember-Trying to predict future rates can be a risky move -you never really know where things will land

Looking for some insight if I should wait to purchase in the hopes of more multifamily properties becoming available in the future, if I should make an extremely low ball offer on what's currently listed.

I've noticed you've commented on many different Indy related posts and I would definitely love to PM you in the near future to pick your brain on your local market knowledge!

If you want to do this properly, and a licensed electrical contractor will no doubt expect this to be done to code and permitted, you're looking at a minimum of having to do the following work:- Split the common area electrical and first floor unit electrical.

I would also be weary of the expectations of your partners in regards to property management.

If everything does as badly as you could expect which should never happen you end up at the high estimate.

As far as financing goes - make sure you use a loan officer and loan type that supports your type of future rental income.