I'd add one more thing to that framework: contingency.

With the right planning, there can be ways to maximize tax advantages beyond the basic “passive losses only offset passive income” framework, depending on your situation and qualifications.Hope that helps—Indy can be a great learning market if you approach it carefully.

I’m flexible and open to guidance, but that’s the general framework I have in mind as I get started.Looking forward to hearing your thoughts.

Reality.Here’s the framework we use:1.

Really like the way you broke this down — the 3-category framework makes the whole industry much easier to visualize.I’d say I’m closest to the active investor category, mainly because most of my day-to-day revolves around acquisitions workflows, conversation frameworks, and the front-end process of moving deals from lead → appointment → contract.

If a deal looks too good in an efficient market, the market is usually telling you something.The framework I use is to separate "cheap because of a solvable problem" from "cheap because of a structural problem."

Trying to force conventional or slow capital into a fast-moving deal usually costs the opportunity.Structurally, I prefer setting up a go-to framework rather than reinventing it every time.

I’m here to learn what reporting routines and frameworks experienced investors actually use in practice. 

What’s helped me is having a consistent framework and a simple spreadsheet to compare both options side by side.I usually start by setting my personal criteria:Flip: Quick turnaround, rehab + purchase costs make sense, strong ROI within 6–12 months.Hold: Positive cash flow, good cap rate, long-term appreciation, manageable landlord responsibilities.Then I run both scenarios in a spreadsheet (purchase price, rehab, holding costs, expected sale price or rent, financing).

I do have clear objectives around building durable, well-underwritten investments, but I'm intending to get the framework and decision criteria right before setting specific unit count targets or timelines.