From what I've seen, think you should have no issues finding something needing some updating to hopefully further build equity and push rents. 

A moderate 80s update in Houston may not match Indy, so leaning on someone who knows the local buyer pool can save a lot of back and forth.All the best,Johnny

go to lots and lots of meetups.2. talk to those HMLs and find out what their terms are.3. save up enough so that you have a down payment, reserves, and also enough in cash for the hold period. 

As there may even be updates found in the court that hasn't been put out to the county yet.

Huge update!!!!

Everybody I have talked to says there is a 6-12 month season period before I can refinance and get my money from the heloc back out.

The 15-year period of cheap money on which every US real estate investor has surfed is over.

There are 1920-1930 vintage properties  with recently updated mechanicals and a new roof and there are the same vintage properties that need work. 

The EPA wants all lead pipes replaced, period.

The time period you select is whatever you are comfortable with.