True, but (a) they were typically experienced investors, and (b) today's market includes record prices and high mortgage rates, which is a double whammy. 

Are you building for pure investment purposes or are you looking to use some of the space for personal/personal business use?

Explore FHA loans and mentorship opportunities from experienced investors.

I believe that connecting with experienced investors and fellow newcomers will be invaluable as I navigate this path.I am particularly interested in short term rentals, multi-family rentals, and possibly fix and flips. 

14 Jan 2025Maggie Switek, Brock Smith, and Abigail HumphreysWith inflation easing and the US economy experiencing continued growth, the turbulence triggered by the COVID-19 pandemic is now largely behind us.

Obviously tough to give advice based on minimal info and no info on your personal situation.

I personally feel landlording in Indianapolis is pretty easy as far as restrictions go.  

Like calling @Stuart Udis out.. who I know for a fact is a very experienced developer and just happens to be an attorney.. 

Moreover, for someone in your position just starting, it's best advised to partner with an experienced individual to mitigate risk and adequately learn the process.

I personally would revisit your strategy of buying a negative cash flow property in SoCal, right now.