I have a friend who invested in Indianapolis and has positive cash flow. 

You need to beef up your cash position to account for reserves etc ....

Their plan is to move out now and repay the missing funds after they receive a settlement from a slip-and-fall they had after the HOA didn't properly maintain the parking lot which turned into an ice rink last January.I'm trying not to gouge anyone going through a REALLY rough time, but what is the process for collecting the back rent from Mom & Dad and/or The Daughter?

2.What is their position?

It is secured by property (albeit 2nd position) and they aren't on the hook for the existing mortgage.

Part of investing in real estate is maintaining your assets.

That means it would take you over 16 years to recover it and break even...which is when you start to turn a profit.The worst thing you can do is to think you can turn a negative CF property into a positive one with a larger DP. 

You can rent out the other side, practically paying no mortgage & have your positive cash flow.

If it is currently conventional that got from a Bank, do not believe anything they say that sounds positive. 

I hope to someday marry my love for art, photography and Realestate investing, to create something that is unique and desirable.I look forward to hearing from those who have a positive and honest perspective and who are looking to be supportive and inspirational.