Indianapolis Short Term Rentals - Air BNB - New to Investing

[Brian Myers]

I'm a new investor looking to get into Air BNB and Short Term Rentals. I live in northeast Indiana, and after doing a lot of research, it looks like Indianapolis can be a great place to get started (based on new AIR DNA stats) - good returns and relatively low cost of entry. I've looked at several discussions about Indy neighborhoods as it relates to rentals and flipping, and was wondering if anyone had specific suggestions on neighborhoods for STR? Right now I'm looking near Fountain Square, Broad Ripple, and Mapleton-Fall Creek. Mapleton-Fall Creek seems to be mid-gentrification...some streets are really nice, others not so much, which I see as an opportunity.

Also, as a new investor, I don't have many connections and would love to build some in Indianapolis. Right now I'm talking with a Realtor that I reached out to through Zillow...good or bad idea? Anyone have recommendations for Realtors, Property Managers, cleaning service, etc.? I'll be making trips to Indy over the next week or two, and am hoping to meet with and vet some vendors in-person. 

[Kevin Romines]

Keep in mind that you can finance a vacation rental through Fannie Mae as a second home (SFR's only) with as little as 10% down. You must live or occupy the home for 15 days a year, but after that, your good.