Hey @Adam Haines there are a bunch of us operating in the area!

I actually operate a property management company in Indianapolis, Indiana called Intrigue Indy.

I am sure you can find similar properties up there to gauge rental prices and interest but if you plan to use it on popular weekends you may fall short of your expectations.If this may involve many family members I think the first step would be to make sure everyone is on the same page with whether you are going to rent it, when you will be trying to rent it, and how long you plan to hold the property.Many of these seem to be setup in a family trust or Family LLP with an operating agreement which I am sure you can handle. 

You need to contact the Bureau of housing inspections which operates under the Division of Community Affairs.

I'm not entirely sure the product continues to be developed given their asset tracking still says "coming in 2017" but the site continues to operate so I'm going to reach out to the company to see where things are at and whether there's legitimate concern over the product shutting down. 

Hi @Thiago Gomes  My sister and I bought in Colorado primarily due to location of my property management resources and rehab team, which are on the ground and operating in Colorado. 

Not knowing any about these places  i will mostly  like pick population size to  narrow down my search to pockets before starting to contact  realtors and wholesalers in operating in those pockets.

Other more established business operators with proven systems likely have the infrastructure to get to the scarce amount of distressed inventory before your average 1st time investor ever would.

For example, a property built in the 1970s or 1980s of 100 units in size is likely to have an expense ratio (operating expenses divided by total income) of 50% or more.  

I can definitely see some deferred maintenance on the building, but the business operation seemed smooth and profession on the surface.