But we are choosing to sell our house, take the equity and relocate to TN.

Again, I'll report.I have been told that $550 appraisal fee is refundable if I choose not to go with LendingOne.

HD for example has a program where they will set up shelving, provide labeled/bar-coded bins, stock specific items that you choose, and check / restock to specified levels periodically.

G'Day Hughston,The best advice I could give would be to not invest out of state unless you buy turnkey.But that's just me being biased.The second best advice I can give is to focus more on the people that you will be working with over the stats/demographics of a specific area.I'm sure that this has been covered many times in the various BP books but to this day it rings true.You will heavily have to rely on the folks on the ground.They will either make or brake your investment so choose them wisely.If you buy the best house, on the best street, in the best area with the best capital growth projections.But your property manager is incompetent or a cheat.You will loose money.So, team first, area second.Much success

Which ever market you choose will depend on your strategy and how involved you are going to be.

Are there area-specific obstacles or opportunities that I should consider before choosing Indianapolis?

They can probably replace the other tools if we choose.  

Bottom line is you can rent out on a short term basis and you don't get into a legally binding agreement during the first year where you lose the ability to occupy the property when you so choose.2. 

Personal Factors: Consider your skills (renovation vs. property management), availability of capital, and risk tolerance when choosing a strategy.In today's market, both strategies can be viable depending on your goals and circumstances.

Choosing a company with brand recognition and following (they have over 70k followers on Instagram) was also appealing for my goal of creating a rental home that people would seek out.