More neighborhood advice for OOS newbie

[Ori G.]

Hi everyone, I'm Ori from Israel, new to REI, this is my first BP post :)

After analyzing most US metros I chose Indianapolis. I'm looking to buy rentals worth $110K ARV, with $900+ rent, focusing first on cash flow, wanting to start with a handful of stable B/C neighborhoods, make some deals, and then later expand.

I talked to some agents who suggested some up and coming neighborhoods: Bates Hendricks, Irvington, Little Flower, Garfield Park, even Haughville. But analyzing some of them (via trulia, neighborhoodscout) I saw high crime, poorly rated schools & low income. I also keep hearing that Indy varies a lot from block to block. Doesn't feel stable.

At this point I could use some advice from more experienced investors:

* Are some of the neighborhoods I mentioned too risky for beginners/OOS, either for management reasons (high crime / low income) or due to too big a difference from street to street?

* Are there more stable B/C neighborhoods that fit my criteria?

* What are the dis/advantages of ditching downtown and going outside the ring, for example to Hendricks County (besides having to start my analysis from scratch)? 

[Mike D'Arrigo]

@Ori G. for an OOS investor, I would recommend sticking with more proven areas unless you really know and understand some of the up and coming areas. Indianapolis varies from street to street in some areas. There may be gentrification going on on one street and the next street over remains blighted and run down. Whoever recommended Haughville needs their head examined. Although a lot of development is going in to the area, this is one of the highest crime areas in the city. We've been active in Indy for 10 years. I'd be happy to share my insights and experience if you want to contact me.