New Investor in Indianapolis looking to buy first rental

[Josh Blakey]

Hello to my new Bigger Pockets Family. I am a first time investor,well not yet. I am looking at buying my first rental property in next 30 days. I have been researching and reading forum posts for the past several months. I have been able to save up $75k to purchase my first rental. My goal is to buy my first rental all cash and then refinance to pull my cash back out in 6 to 9 months to purchase another rental. For my first rental purchase I would classify myself as risk averse. I have researched several areas in Indianapolis but have read that for investment properties in Indianapolis it isn't necessarily areas but can be street by street. I would like to net $150/month for my first rental. Is this realistic? Looking for advice on areas, neighborhoods,etc.. on where to focus.

Josh