We have been primarily buy and hold and wanted a secondary source of capital to fund our buy and holds.

@Nadia Jones Starting and running a fund is a separate business because it's something that you need to actively market for and regularly work on attracting capital to invest in. 

Some of these renters are capitalizing on low interest rates and choosing to buy, but many are unable to buy due to lack of down payment or credit factors. 

Some folks in my circle also invest in other places like San Antonio or Phoenix, capitalizing on strong demand for workforce housing..

Any way to capitalize on this garage outside of just attracting higher rents once I move out and/or higher sales price if I decide to sell?

@Paola Astrid Find the local NARPM (national association of residential property managers) chapter's website and you'll find a list of each professional PM. 

I am most comfortable with long-term rentals, but I would like to try a flip or two to build my capital.

With that capital, I’m planning to either dive into a larger multifamily project in Detroit or grab a small duplex or quad in San Francisco.To reach that $500k mark, I’m leaning on the power of cash-out refinancing.

It has accelerated quite substantially in the last couple of years due to Ontario and BC migration (both in people and capital).

3) Is this a trend localized to Indianapolis, or is it indicative of a broader national issue?