OOS Investor - Just Opened Escrow on my First Indy MF

[Peter Aziz]

Hey guys... Long time investor from CA (Los Angeles, all SFRs) that entered into contract on an Indy MF. The property is located off of E. Washington right across the street from Willard Park. The home is comprised of a 1+1 and a 3+1 pulling in about $1.8k/mo in gross rental revenue ($800 for the 1+1 and $1,000 for the 3+1). I have a few questions that I'm hoping the forum members can help me with:

1 - My understanding is that this is a C/D neighborhood - would you agree? Any safety concerns that should be taken into consideration? Is the surrounding area being improved and would one reasonably expect this neighborhood to perhaps upgrade itself into a B/C within the next 24 months?

2 - I've reviewed the lease agreements and it appears that the landlord is paying for all utilities. Is this common in Indy? In CA, I pay for gardening/pool service, but not for utilities. I'm considering perhaps lowering the rent a bit in exchange for the tenants taking on the responsibility for the utilities, but also understand that this may be a no-go in this area. 

3 - The rents appear reasonable to me based on my due diligence ($800 for the 1+1 and $1,000 for the 3+1) - would you agree?

4 - What would you estimate for average monthly power, gas, water, and trash (I know, this is going to be a wide range depending on # of occupants, climate sensitivity factors, etc)?

5 - If/when I have turnover, what's the timeframe to realistically expect to have each unit reoccupied in this area? 

6 - Given the neighborhood 'grade', should I be concerned about vandalism and/or theft if/when I decide to rehab the property?

I appreciate all the help and support. I'll be flying into Indy on the 12th and staying through the 14th and am happy to buy ya'll a round of beer :)