My son will be helping us with marketing, advertising (if needed), press coverage (if needed) and finding investors / lenders (if needed).

The "word on the street" is that the owner may be looking to sell off market to an investor, and it is currently not listed on the MLS. 

My partner and I just started, created the LLC, got all the documents, and have begun introductions with lenders across the market. 

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). 

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?

BRRRR strategy is still a great strategy in many markets.

Your $1,200 ask may be fair for your market and property, especially if supported by comps, but they might not approve it if the tenant cannot afford it.

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

I am familiar with the market.

You can analyze it all you want, but until you get it on the market, you don't know what the market will dictate.