Is a licensed property manager ever required by law?

[Andrew Flora]

I’m looking to buy a 40 unit portfolio in Indiana.  One property in this portfolio is a 16 unit apartment complex.  My realtor is telling me that any time there are more than 12 units on a single parcel it is required by law that a licensed property manager must be hired.  I manage my own properties and I feel like she is either misinterpreting a different law or Is simply wrong about that but I can’t find anything online to confirm or deny.  She is also doing property management and conveniently offered to manage it for me.

Is she right about this Indiana law?

Thanks,

Andrew Flora