That coupled with the fact that Philadelphia has seen a rise in population over the past 5 years, with the large majority of residents falling in the millennial generation. 

Millennial also all first came into the housing market while they watched their parents lose their asses, they make life long renters, also the baby boomers...they are downsizing, want an ease of living and don't want the maintenance...great renters.

Here are two posts that cover the local market:https://www.biggerpockets.com/forums/621/topics/398662-heres-what-fixer-uppers-on-the-mls-are-selling-forhttps://www.biggerpockets.com/forums/621/topics/396725-millennial-migration-to-sacramento-2017---here-comes-the-rushIn sum, buy and hold is looking good (particularly 2-4 unit multifamily)  and flipping is ultra-competitive and you're really going to work to find a deal.Check those posts out and then let us know your thoughts and we'll be able to help guide you further in the right direction :-)

Right now there is a huge surge of Millennials moving from the Bay Area to Sacramento, which is driving up prices and rents like you wouldn't believe.

Millennials, move-up buyers, 50+, who? 

Maybe Indy can develop more workspace entrepreneur thinktanks, that would be a great way to lure in the millennials (that and brew pubs, Indy has great pubs!)

Interesting article on the future of REI and the changing rental market from Morgan Stanley.https://www.morganstanley.com/ideas/millennials-generation-z-housing?

I work in downtown Hartford and can attest to the developers trying to attract more millennial's in their apartment buildings.

Be on the lookout for the same thing to happen to Stockton in another decade as long as the city's leadership stays on track and doesn't run itself into a ditch like it did the previous two decades.Eventually Sacramento will get pricey too, and if Stockton pulls off their Open Window Project and turns around the downtown scene, it'll be the last spot in Northern California for affordable housing that Bay Area millennials will be willing to stomach.

Be careful of your investor friend saying he only rents to millennial s  in a hot neighborhood.?