I would rent out the Nevada property then later on, leave the Bay Area and move into the Nevada home to semi-retire (work on a part-time/contract basis) - there's no state income tax whereas California is taxing all my income, including rental income from my Indianapolis properties.

We manage several 'hybrid' properties in Indianapolis, where many function as STRs for the majority of the year and shift to MTRs during the winter months.

Can anyone share with me their experience (pros / cons / preferred neighborhoods / takeaways) in Indianapolis? 

The BRRRR strategy and tax lien investing are both great approaches, especially when you’re getting started and want to maximize your investments.I’m involved in the investment real estate space as well, primarily focusing on new construction duplexes in downtown Indianapolis.

Being out of state, you will want an agent who has good relationships with reliable inspectors, title companies, contractors, property managers, lenders, wholesalers, insurance agents, other RE agents, etc.

Anyone investing in Indianapolis IN?

A reputable home inspector would be able to point you in the right direction. 

It doesn't matter, just choose one and use it.3) This is just about finding a good local real estate photographer and inspector.

Instead we are invested passively in 25 different apartments across the United States and manage two large apartments in Indianapolis. 

We manage MTRs in Indianapolis.