Having a rough idea of what interest rate you can expect is crucial for you to play well in this game.There are many factors that determined your interest rates including base rate (update daily), loan amount, location, LTV (loan to value ratio), credit score, house type (single family vs condo) etc.So to help yourself estimate, you can talk to your friends who have done mortgage recently and ask about their rates and how they get them.

Having realistic estimates for ARV (or as-is if you're referring to once the project is complete) has been one of the largest factors to successfully executing the BRRRR strategy from the refinance perspective.

The real estate market in Indiana is very good for return on investment because of the low fixed costs, property prices, and the economic factors such as types of jobs, job growth, rental rates, etc..

The reason being that it lowers your total OpEx and to show an inflated NOI and thus an inflated valuation to the market.It's relativity easy to identify and the easiest way to factor it into your own underwriting is to understand how much it will cost you or your PM to do turns/regular maintenance.

Rather than focusing on ADRs or occupancy rates individually, RevPAR is a factor of those two values.

They will look at multiple factors but they may end up counting the projected income for the unit that needs rehab.

Without your name on the title, you might fail to capture the depreciation expense on your tax return, another perk of real estate investing.Does your area have an appreciation factor?

@David Bloomer, small loans are a limiting factor when looking for financing.

Of course you'll have to factor other aspects such as investment returns, current and future tax brackets, etc, discuss your strategy with qualified tax professional. 

What have you factored in to get to that number?