I'm looking to find a reliable builder that can produce a quality product.

Are they actually useful and reliable?

The contractors are really reliable and talented but do really high end work.

For your first one I would stay away from foundation issues, severe water damages, mold infestations, etc.If I were you I would find a reliable contractor and have him walk any potential projects with you. 

If, after you've invested, you don't want to think about it again other than checking your monthly report, you absolutely can do so and still have consistent reliable investment income every month, while having your tenants pay down your loan.

Are there reliable sources to obtain information on the property's status and current owner? 

TiffanyIf you will PM me I know a couple of reliable property management firms.

Does anybody know of any good reliable private lenders that lend for Indianapolis who:1) lend to LLCs2) are fine if the money comes from a heloc3) are at 8% or less interest4) are at 2 pts or less5) are at 1500 of other fees or less?

Where have you found is a reliable source for current market conditions?

The locals in the area represent a lower income which I have heard is not the most reliable source of monthly income.