Best cities to invest in Indiana

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My husband and I are looking for one or more investment properties to purchase in the next month or two. We started our search in Illinois but received many recommendations to look at Indiana. I'm starting to turn my attention there but I'd like to narrow down my search to the best cities that have landlord friendly laws, low tax rates, and affordable prices. Are there any markets that achieve 1% price to rent ratio? We are open to both single family and small multifamily, either turnkey or with cosmetic fixing. We are looking to spend under $340k, whether that be on a single property or multiple. We are also looking to build up a team in the area if we find that the market meets our investing goals. Thanks!

I would love to connect with you to discuss the areas in Indianapolis - several that would fit your criteria.  (I used to live in Illinois and the property taxes and Landlord laws are much easier in Indiana).

@Kelly Reynolds I would stay outside of Marion county and would look to the suburbs of Indy, like Shelbyville, Rushville, Franklin, Greenwood, Greenfield, Greensburg...

Those burbs I mentioned specifically because of the tendency to lean to towards 1 to 1.25%.

If you go multi family then you're looking of course much higher.

You'll typically spend around 70k to 100k and get 900 to 1250 in rent on single families. On multi you'll spend 110k to 135k and get 2100 to 2800 in rents. You can also go after 5 and 6 plexel conversions here too.

There are also SOME opportunities for BRRRs but not unless they need a TON of work...plenty of turnkey though!

BP released this data back in March:

https://www.biggerpockets.com/...

This research looks at best cash flow and best appreciation markets over the last 10 years. They also then combine that data to come up with a "hybrid" market.

Evansville,IN is close to the top as a hybrid.  You get steady cash flow with the opportunity for appreciation.  That's a good combo.