I wanted to see if there was anyone local to Purdue University that is involved buying or selling real estate.I am an electrician with backgrounds in mechanics and control systems(more information in my profile) and id be more than happy to share my skills in return for mentorship or just to network.Otherwise I was wondering if there are investors in this area (Tippacanoe and surrounding) that could shed some light on this area regarding how difficult it may be or areas to stay away from. 

Personally, I am not sure of the economic upside given their main attraction is their university, but the rents and price per property seem to be keeping up with market conditions. 

Perfect passive income play, but we relocated overseas.Problem: How can we amplify the reach and attract savvy investors?

@Kevin S.Yeah I mean, maybe... in my experience permitting has everything to do with local governments being able to increase your taxes for each and every improvement.

I reached out to a local bank that knew the property, and asked for the commercial lending department. 

It was not producing a return that justified the effort and this was a purchase made prior to the recent rate hikes and the crazy appreciation from 2012 to 2022 (so its return was better than if the property was purchased today).I do believe a local investor should do better than an OOS investor, but it starts with accurate/realistic under writing.  

Why not talk to a local agent or 5 and see what they think?

Contacted local DSCR loan officer and was told the best rates would be 7.325% with 30% down and that’s with two points.

Also not all houses would make a great STR, so getting local advice on location, size, etc would be beneficial.

Make sure the space meets local building codes and safety standards.Market Research: Research rental prices in your area to determine how much you can charge for the basement apartment.