I’m based in Indy and work with a lot of out-of-state investors doing small multifamily / BRRRR, including fourplexes.Quick on-the-ground notes from what I’m seeing right now:Cap rates: For renovated B/C fourplexes in decent working-class areas, 7–9% is a realistic range.

Many lenders, including ourselves, will take your past projects into account when offering you better loan terms.If you have a proven track record, we can help you secure even more favorable terms on your next flip.

The important part of the rehab (biggest expense) is the backyard which I've got a quote for $10k which includes demolition, landscaping, and pool service with pool liner.

Many investors successfully manage this process remotely, especially if the new property management company is experienced with out-of-state owners.Once you identify a new company, here’s a general outline of the process:Review Your Current Contract – Check for termination clauses, notice periods, and any penalties or fees.Notify Your Current Manager in Writing – Provide formal notice according to your contract terms.Coordinate with Your New Manager – The new company can often assist with the transition, including collecting tenant records, keys, lease agreements, and security deposits.Communicate with Tenants – Your new manager will typically send an introduction letter to tenants explaining the change.Ensure a Smooth Handoff – Confirm that the new company gets all necessary documentation and access.It’s also wise to ask the new company about their onboarding process, how they’ll handle the transition, and how they maintain communication—especially since that’s been a major issue for you.

Include all costs and what it does to your monthly budget and future buying power.While deciding, tighten cash flow: ask for an HOA payment plan or appeal fees, explore a small rent bump at renewal if comps support it, and price out selling the condo with seller financing to shift from negative monthly to positive note income without a big cash hit.Quick question to guide next steps: what’s your current monthly shortfall after rent, and when does the tenant’s lease end?

Rent growth is projected near 4%, bolstered by diverse employment sectors including technology and logistics.

Funds were furnished to CALM by investors, including Mike Begovich and Steve Lillie and Karen Haddigan.

And I am only buying single family detached houses built since  year 2000, including new builds bought from a builder with 4.25%, 4.25% and 4.75% interest mortgages; the last of which is fixed rate for 30 years, and positive cash flow.

My background also includes marketing, credit strategy, and guiding first-time and seasoned investors through everything from DSCR loans to fix-and-flip funding and long-term rental financing. 

Also, my leases include the specific pets allowed in the rental (tenants have to get written approval to add a pet).