They are not full time and really don't have a good handle on the market or the latest laws.  

Hi everyone,I'm exploring the possibility of investing in the Indianapolis area.I was thinking of focusing more on the Bates Hendricks / Fountain Square area, and I noticed that most of the houses in the area are quite old.What do you consider to be "too old" of a house in this market?

I'd love to connect and learn about the market.Context: I own a STR/MTR management company in Los Angeles and we're considering expanding to a market friendlier for STRs.

Depends on markets of course, so if you are a HCOL area with high list prices, this may be out of reach even with 100k+ to put down (while you can get away with less, this may create a problem with too high of a PMI and overall mortgage payment). 

The home has equity as we bought for below market Thanks !

Your goal should be to have performance cap rates at 7-8% on something with a market cap of 5-6%, which gives you a healthy 200 basis point spread from the going market rate. 

It's always better to stick with markets you know!

BRRRR strategy is still a great strategy in many markets.

Conventional lending has 2 reasons they want a borrowers loan to be ___% less than estimated market value.

You'll also need to learn about marketing, property values, repair costs, property management, etc.