This deal doesn't give you any flexibility and simply locks in $50K for ____ of years. 

TLDR: If we stop using it as an apartment (not planned) or if it suffers more than 50% of it's value in damages (fire or other act of god), then it would no longer be grandfathered in and must convert to SFH.

:D We used BM 'Simply White' and 'Pale Oak' on the exterior of the house.  

Simply improving communication between staff and residents can greatly improve satisfaction and resident rapport. https://www.cbre.us/research-and-reports/US-Multifamily-Research-Brief---Apartment-Turnover-Rate-Continues-to-Fall-July-2019?

Also, the condition was a huge selling point, being owner-occupied it was in good shape as it sat, and simply needed cosmetics to turn this property around.

And, he Can’t write a conventional loan for an LLC, hence the suggestion to simply buy it in your personal name. 

I would say if you’re simply not interested in Indy (I mean at least worth the Wick’s sugar cream pie ha) you should venture into the Midwest more and look for other ‘like Indy’, historically flat markets.

This doesn’t account for the $500/mo. equity payments your currently making, so your margins are going to be slightly better.Bonus option 2 – simply reposition the assets… this is the same concept as above, except you just refi the properties instead of selling for retail.

Where current rents are and how expensive this area is, the numbers simply don't work.I don't want to limit myself to only this market and was wondering if anyone has any insight into other markets around the country or any other advice for that matter.Thanks!

You simply may not be a good landlord fit for Section 8.