An emotional support pet allows their owner to break laws and rules- it's not fair.  

Not a B&B investor but the rule of thumb is make sure it works as a regular rental first, then everything beyond that is gravy.

Old 1% rule) I would start there and let that inform your decision making.

I'm assuming based on my budget, that totally rules out being able to afford a single-family home?

- Any special or unusual real estate rules I should be aware of in *Indianapolis*?

We are trying to sell two identical buildings separated by an enclosed courtyard.  

There are many programs out there for foreign investors and foreign nationals, each with its own requirements/qualificationsUnless a new rule came out in the last few weeks, I am not aware of any loan any non-US citizen can get UNLESS they have a US bank acct.

As a rule, most areas will not cash flow if you're paying retail for the property.

In the commercial world, caveat emptor is the rule. 

So the enemy method is the way to get a good idea.Check AirBNB and VRBO and see what similar properties are doing in the area.Also, Louisville recently tightened up the rules around STRs so check with the city and make sure you are good to go for a particular property.