Usually only commercial properties with established operational expenses histories are evaluated by cap rates and then those cap rates can also be applied to buildings in certain areas representing higher or lower risk areas.

same with HVAC and other big ticket items.with that said, i don't invest in Indianapolis, but you're likely still in a sellers market, which means that sellers are going to be less inclined to make fixes / give credits for issues. 

I received wire transfer instructions to a credit union in Utah with a totally different account name than the company.

Aim for a 620+ credit score, save for a down payment, and research markets with strong rental demand.

Focus on growth areas, understand local regulations, and use your rental history to build credibility with brokers and sellers.Good luck!

Unless a loan is assumable few if any lenders are going to agree to this because they have no way of knowing if you are credit worthy, as the seller was the one who was vetted. 

I want to scale, but not sure how to develop my strategy.I have a $200k HELOC and excellent credit worthiness and high income from my day job.

@Roy LoganIt sounds like you’ve made some great moves in real estate investing—your BRRR strategy is paying off with those solid returns.At the bare minimum, you should do the following to make your bookkeeping easier:Dedicate one checking account and credit card exclusively to real estate.

There are several benefits of having cash in the bank/liquid reserves versus an open end mortgage (a.k.a) credit card.

Check with credit union.