Looking for advice on Indianapolis Rentals

[Vlad Trofimov]

Hi everyone,

My name is Vlad and I am 24 years old living out of LA. I recently stumbled across BiggerPockets after a friend recommended me the "How to Invest in Real Estate" book. I was left inspired to purchase my first property to either house-hack or rent so I can build wealth as a first-generation immigrant. I'm not too familiar with construction/renovation, so my goal was to find a property that had been recently remodeled but at a price that still yielded positive cash flow each month. I searched in a few cities, and stumbled upon a great post by Sterling White about the different neighborhoods in Indianapolis: https://www.biggerpockets.com/...

This is my first-go at purchasing property, and my first-go at purchasing a rental investment. I've found some great homes in my budget (<=400k) in what looks like to be well ranked neighborhoods (Fountain Square, Ransom, Fall Creek Place). Close to schools/universities, close to downtown/restaurants/bars, low crime, etc... I have no connection to the area, and so I've been using RedFin to help with virtually touring these homes. I think I've found one that looks like it's almost ready to rent, but I am nervous pulling the trigger without having a conversation with an existing landlord in the area to go over the best way to manage this property from out of state.

Does anyone have some expertise they can share? Preferably, out-of-state investors that have found success in Indianapolis.