Since Washington apparently has now instituted State Wide Rent Control  (shades of communist Russia) I can't imagine that makes it a better place to be a landlord.

But I can assure you that judgement will still be less than the total amount owed (at least in tenant-friendly jurisdictions).Regarding turnover, portfolio-wide, my average tenancy is 23 months amongst those whom I have placed and have since vacated. 

The difference now is that we’ve actually secured a real deal — not theoretical — and I want to see if we can make it work, with eyes wide open.Let me lay out the basic numbers for the property:Purchase price: $58,000Rents: $1,890/month (Section 8 tenant already in place)Estimated expenses (monthly):Taxes & insurance: ~$180Maintenance & CapEx: ~$150Property management: ~$150Vacancy reserve: ~$75Hard money loan interest: ~$580 (assuming 12% interest-only)→ Monthly Net Cash Flow (during HML phase):Roughly $755/month positive, even with hard money interest and conservative reserves.Then: Plan to Refinance at $75K (based on appraised value)     DSCR loan at ~8%P&I on $75K over 30 years: ~$550That drops total monthly expense to ~$1,105New monthly net cash flow: ~$785–$800So yes, even post-refi with full leverage, DSCR stays >1.6, which is very healthy.I’m not in fantasyland — I get that if the appraisal falls through or tenant bails, we’re exposed.

I think that is a country wide minimum actually.If you want them to be legal you will need one egress window in each bedroom (if there is one) along with one in the main living area (this is dependent on the area).

There are a wide variety of guests staying at short term rentals. 

I've often seen quotes that come in wide range of rates so you might be surprised to when you see other quotes.

That said, there are limited circumstances where a landlord can apply for what’s known as a "major capital improvement (MCI)" increase if building-wide improvements are made (e.g., roofing, plumbing, elevators).

That means a trustworthy property manager, a reliable contractor (or two), and ideally someone who knows the market on a street-by-street level—many U.S. cities, including Indy, can vary widely block to block.

If you decide to look out of state, you can find deals for a wide variety of strategies (STR, MTR, BRRRR, fix & flip) that work well in Columbus, OH.

If you are looking for small multifamily, apartment buildings, single family homes, 1 bedroom properties, 4 bedroom properties, and the list can go on and on it gets hard to be good at knowing that wide range of properties.