You have to buy very low to make any money on the project.

Multifamily doesn't need any more pressure/demand since cap rates can really get low when too many people pile in, but I have to say that commercial real estate (including large MF) and other types of passive investing (mobile home parks, storage, etc.) can really make like much easier.

@Rishika Garimella I am a local home inspector and investor in the area. i think Austin is a sleeping giant right now. the rates are really scaring away buyers. but since competition is so low right now, its a great time to snag some property while its not being ripped apart by investors. i think the hutto manor area is a great choice, once that freeway opens up that connects taylor to round rock, it will definitely become a point of interest.

It's a combo of low housing supply, higher interest rates vs. seller expectation, and a poor economic outlook for the country.As an investor with a few rentals it's like like the parking brake is stuck on.

If you want to put down a low down payment, you might not cash flow for a few years.And FHA for 3-4 units is almost impossible.

Some of it is luck or taking advantage of opportunities (eg low interest rates). 

The risk for investors became low enough for them to be really interested in the project.

Here are a few things that I like about the neighborhoods in Indy compared to other states: high rent-to-home-value ratio, consistent and gradual city development, relatively low property tax and insurance cost, affordable renovation service cost.From my experience, it's possible to find deals that meet 1% rule if you invest in *turn-key* duplex or SFH here, but they are harder to find, and could potentially slow down you from scaling up.

That protects you from having to sell to  low.

You can go as low as 2.5x in some cases but NJ tends to produce enough traffic/applicants where 3x should be minimum unless property is over priced.