Your comment does bias me slightly in favor of Indy, since at least we're talking about a manageable car ride.That said, I'd love to know the biggest mistakes you've seen - how do neophytes typically "crash and burn?"

Choosing the right market can make a huge difference in your success as a real estate investor.Since you’re considering both short-term rentals (STRs) and long-term rentals (LTRs), here are a few things to keep in mind:✅ For Short-Term Rentals (Airbnb): Look for markets with strong tourism, business travel demand, and favorable regulations.

These are great places to invest where prices and rents are favorable as well as the landlord laws. 

Also if it's for a BRRRR, it can change the economics on the back end in your favor. 

Quote from @Matthew Beninate: Quote from @Sarita Scherpereel: Quote from @Seo Hui Han: You may want to consider local banks / credit unions just because many of them will require or give you more favorable terms for things like HELOC's and other line of credit products if you have a deposit account with them. 

I’m hoping to find more success in Phoenix, but as you stated, the old fashioned way may be my best bet.

Additionally, in my market, a lot of these properties are located in areas where price-to-rent ratios are extremely favorable.

These are the best options for finding sellers willing to transact in today's market at cap rates that make sense to the current interest rate environment, in order to capitalize on the upcoming favorable market conditions over the next few years such as spiking rent growth, falling vacancy, and compressing cap rates.Interest Rate ProjectionsLooking at the Federal Reserves Dot Plot, which is released every quarter and is the federal reserves outlook on where they believe the Fed Funds Rate, which does not control fixed-rate financing but does influence it, as well as directly affects floating rate financing, is predicted to be 3% - 3.25% by Year End 2027 (Source), currently sitting at 4.25% - 4.5% today.

@Brian Chadwick A cash out refinance might offer more favorable interest rates than your HELOC provides.

They may favor buyers who demonstrate a willingness to use the property in a way that aligns with their values.Pricing: Non-profits might prioritize achieving fair market value, as they have fiduciary duties to maximize value for their mission.