I spoke with a loan officer that I worked with before and wanted to relay some additional information to see if that generates different advice.

Limited to operating between 6am-7pm.It does say "Where a center is contiguous to a residentially-zoned property, a six-foot visual barrier, not less than 95 percent opaque, shall be provided along the property line, excluding any required front yards." 

I am curious how other investors here operate in terms of assigning contracts, double closing, assuring they get paid, contract specifications, and so forth.Would love to hear from Indiana investors but all feedback is welcomed regardless of your location! 

The fact that any person engages in or performs or offers to engage in or perform any of the practices, acts, or operations set forth in R.S. 37:1431(7) is prima facie evidence that such person is engaged in the illegal practice of real estate.D.

Plus, these would still generate positive cashflow at their current listing prices.I wanted to get some opinions on turnkey properties, any other pros or cons.  

While I'm asking that I'll also ask whether there is anything I can say to the appraiser to convince him/her to not include management fees in the operating costs?

In that case, certainly get the seller to sort that out first or you could have a headache.The property management company that I like and trust never hold you to such obligations from the start, they operate with the highest quality of service and basically maintain that if you don't like them you don't need to work with them.

It is a single-family property but will likely be rented to college students to generate some cash flow.

From those one looked fairly good, well managed on the upswing as a new owner had come in and started remodeling and kicking bad tenants out. 24 unit complexList 565,000Purchase Price 535,000Gross Rent:138,000Less Vacancy(10%) 13,830Operating Income 124,470Property Tax 8,837Insurance: 6,900Management(6% after vacancy): 7,468Maintenance(6%): 8,298CapEx(6%): 8,298Water: 8,400Waste: 2,700Electric: 8,400(laundry room, hot water heaters, security camera's)Cleaning(unit turnover): 1,800Landscaping: 600Operating Expenses : 60,301Net Operating : 64,169Loan Payments(100% financing): 42,369Cashflow:21,80024 units - 16 2bedroom and 8 - 1 bedroom lofts.

My only exit strategy would seem to be resale with appreciation bc at $420K purchase price (new build in nicer area), I'd never generate $4200 monthly rent (typically around $1800-1900 here).