And the back of the property is technically an alley but there are homes that face the alley as if it were a street. 

Stay within the main streets.  

Also is appreciation of such a house significantly lower than one on a quieter street?

There is one thing to remember about Indy it is a street by street basis.

I always hear about how there was blood in the streets, massive vacancies and rent cuts in Vegas during the GR.

If it's C or lower, I'd be more inclined to try to get rid of it (for a variety of reasons incl. lack of appreciation, and the difficulty of managing a C or lower property from OOS).Real estate investing is challenging enough when the property is down the street...it's 10x+ more challenging when it's an OOS property...and it's 100x more challenging if it's an OOS D property.

I wanted to get rid of the mobile home on my street.

Similar to my experience of living in West Philadelphia, it will vary street by street.

Across the street from me a lease to own option has become available.

You'll also likely require putting additional sheetrock on the ceiling, and a rear egress from the unit that discharges to a public right of way/street (if you don't have this--like your building is connected on both sides--you'll need an easement from the neighbors, which is another additional expense).