I flip here, locally, currently and out of state.

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

After debating local vs. or OOS, it seems like prudent advice to try to start locally with long term MF in so cal. 

All super helpful - and a good reminder to lean into the context of my local market.

Building a network here can open doors to partnerships, mentorships, and local insights.3.Explore the Blogs and Podcasts: BiggerPockets has tons of content—blogs, podcasts, webinars—that cover everything from beginner strategies to advanced investment tactics.4.Utilize the Deal Analysis Tools: If you’re considering an investment, the deal analysis calculators are invaluable for running numbers and understanding potential returns.5.Set Clear Goals: Define what you want to achieve, whether it’s learning a specific strategy or connecting with certain types of investors.

Median rents in Austin declined about 8% last year, I believe, and sales prices fell about 3% as well.If you’re willing to consider other markets in the Sunbelt, you’ll have more affordable locales to choose from.

It’s also worth connecting with local agents who know the market and can find coverage tailored to your needs. 

To find someone, I’d start by reaching out to local rehab centers or recovery organizations as they often know operators who are looking for housing.

Two of the best in the local Denver/Boulder/Springs market who can help you find what you're looking for

Focus on building a strong team, using BP tools to analyze markets, and researching local laws.