Unsure your market.

I would just say the biggest red flag here is "anything sounding too good to be true" - whether thats a hard money interest rate well below market, or 100% "no skin in the game" financing, etc. - those are the biggest red flags here IMO

When I hear "small market" I think 8-10 caps, but maybe my small isn't the same as yours.  

If you find the right team and learn the market it is a great way to invest. 

Waiting too long may result in the applicant backing out, and thus, you would miss marketing to and approving other qualified tenants. 

I am new to indianapolis market, looking to build my team and maily need good investor friendly agent right now. my goal is to buy here around 5 assets a year for rental, in the price for about up to 150K cash per property.Thanks in advance for the answers :)

The Midwest market is absolutely on fire right now!

Always think it is extremely important to note that Cap Rate does not drive value on Single Family Rentals since NOI is not the factor for the vast majority of the market - only really relevant for Multifamily and Commercial (BP audience is generally skewed towards residential not commercial investing)

Utilizing Kim's local market expertise, we quickly assessed the property's potential.

Currently, I am renting a place from a very good friend at below market rent in a very small town.