There is still money to be made and I think you have a good list of requirements, the pool of areas and properties is small in CA for a buy and hold appreciation. 

In CA currently only MF properties are rent controlled.  

Can anyone recommend a good property management company or co-host for STR's in Indy? 

Was just sort of wondering if there’s any innovative ideas out there for getting properties online because of a good online presence? 

We are looking to rent our properties to visiting nurses and the like. 

Hey @Jamie Grossman - I'm a Realtor and Property Manager in Chicago and Northwest Indiana, new to the Bigger Pockets Community but not new to real estate. 

The property is 100 years old but has updated wiring, plumbing, and units.  

@Steve K.From my experience, it's more important to find a broker who specializes in your unit count rather than new turnkey properties.

You should use a state-specific lease that is clear regarding the start and end dates, the monthly rent, the fees that will be charged (ex. pets) and those that may be charged (ex late fee), the amount of the security deposit, and a clear list of rules associated with the property (no smoking inside is a big one as are rules related to parking).

The cost to heat the property runs $1,200 a year.