Memphis has a pretty affordable housing market and tends to offer solid rental yields, which might align well with your goals.Let me know if you need any more info or want to chat further about this.

A "lake house" might be in a residential zoned area where a commercial use would be prohibited or at least require a variance (approval) to make an exception.

Can the new HB 182 law be used to eject the prior owners of a property that the bank foreclosed on and did not remove from the house after the foreclose?

She has been in our house 118 days past the end of her rental agreement! 

(I know it would be a legal disaster if the property goes to foreclosure and the person he sold it to, loses the house and of course sues the borrower for being stupid).

The presumption of most reading this is you mean stocks and bonds and other assets you would buy from brokerage houses.

@Chloe Salcedoi'd start with a house hack.

A great way to get started if you currently have a W2 job is to buy a house hack like a duplex or a fourplex where you can move into one of the units and continue to rent/manage the other units.

Your plan to house hack a multifamily property in Indianapolis is a great strategy to start building equity and learning the ropes with manageable risk.

So, they could potentially buy another house later on.