Buying right is a key component to REI and it protects the investment from market fluctuations and allows you to cash-flow.  

I have 2 questions for people who owns properties with 5 units and up (commercial):1) what is the average cap rate in Indy (I know cap rate might fluctuate from area to area) .

The costs fluctuate depending on demand.So $3-8 vs. $80 - 140........If you believe Google. 

Prices fluctuate with the market cycles, but generally stay pretty stable. 

The stock market is incredibly volatile, so unless you're a day trader capitalizing on the fluctuation or you're someone parking their money in an index fund for the next 30 years that's not the most appetizing option.

I'd like to be able to see how prices fluctuated here during 2008/2009 in comparison to areas more inland. 

We are not anticipating a large fluctuation in property prices during this time.

One thing to consider is though HELOCs are great that they have close to zero closing costs, the rates fluctuate and are usually not considered good for long-term.

While both single family and multifamily have price fluctuations, generally single family prices seem to swing more wildly.

s points on market fluctuations, he is spot on.