All the answers you seek are in this site along with many many others. 

Study a market, visit the market, find acceptable deals and make it happen.

Realtor should be willing to show me around Indy, if I decide to come visit the area. 

Account ClosedWelcome to BP.Please do take a few moments to read the sites Terms of Use and the House Rules for posting in the forums to avoid any future misunderstanding.  

Hello and welcome to this site and asking that question Eric! 

Now I’m not worried because o have automated online systems for rent collection, contractors and licensed repair professionals on speed dial, and I have some boots on the ground in the form of family who can lend their knowledge and keep an eye out for me.My first thought to this question is : if I’m worried that it may be too far ,then for me it may be too far.I could never do a flip that far away, IMO.

I've been looking at sites that auction bank owned & foreclosed homes.

Hello and welcome to this site and asking such a unique question Daniel! 

You should have done a good market survey with some boots on the ground visits to your competition to see the range of what you can get for the product you are offering.

I am still trying to get a feel for the area, but I will be visiting sometime in the spring to check out some neighborhoods before I move down.Are you finding deals in the Midwest city area easier to come by than deals in the trendy Northwest OKC area or surrounding suburbs?