Hey all,I’ve been looking into purchasing a few properties in Indianapolis, however I haven’t had much luck lately finding cash flowing deals. I’ve heard that in Indianapolis, property tax is 1% for owner occupied an...

@Tre'nez Deriggs like some of the other comments here, i don’t believe you have the equity to do a cash out refi yet unless the property has appreciated. with a rental, if you are the perfect person with an amazing credit score and other credentials maybe you could squeak out 80% LTV on the refi. most often you are looking at 70 or 75% LTV and have seen plenty of people at 65%. i did two refis on two different rentals this year and got 75%. this differs from refis on a primary house where you can get higher LTVs. also, don’t forget there are closing costs too that eat away at your cash you are pulling out. on a positive note, you definitely have the right idea here it just may take a bit longer if your property has not appreciated much yet or you have not paid it down enough yet.

If I break it all down time wise, it eats up his deposit and then some. 

Seems like all the little tasks would eat up a lot of timeCleaningInspecting the unit for damageCheck in check out, KeysIs anyone leveraging technology to mange their properties?

These are yearly costs, so, it's eating away one month of rent a year.

It can really eat your time up, and you better have your rental licenses and papers in order or the judge will not help you at all.

If the sub contractor failed to meet terms, you should have rights per contract to address that issue.Bottom line, try and work it out with the contractor first, if all else fails, either eat it or go the legal route.

However, they can take awhile to lease up AND the Landlord concessions, such as free rent and Tenant Improvement allowance can eat into your numbers quickly.  

Remember: If you are the only credible bidder left standing after the first round bidders have bS'd and failed, then YOU are the last man standing.You have to look yourself in the mirror each morning, and not recourse to dog-eat-dog philosophy to do so.

At that point I'd either eat my EMD and chalk it up as a paid education and/or pray for a title defect that can't be cured anytime soon...