The big pros are the strong job market (lots of major employers), good population growth, and still-reasonable entry prices.

Explore off-market deals where competition might be less intense.Don’t get discouraged—success in these markets often comes from building strong connections and thinking creatively about deal sourcing!

With a budget of $300K-$400K, you could potentially find single-family homes or small multi-units in those areas.I'd recommend researching rental demand near universities like Duke or NC State or even checking out neighborhoods with strong job growth near tech hubs.

Option D: you are considered a "disqualified person" to your IRA and as such are prohibited from engaging in any transaction in an IRA or receiving any benefits from the IRA (directly or indirectly), therefore I strongly suggest you avoid this option if you wish to stay out of trouble. 

If you’re set on a duplex with minimal rehab, an investor focused agent should have a strong network of contractors who can give you quick quotes, so you don’t wind up with any pricey surprises.

I think real estate is very forgiving (1) over the LONG term and (2) if you're well capitalized / in a strong financial position. 

Focus on areas with strong rental demand, like Broad Ripple, Fountain Square, or near universities like Butler and IUPUI.Maintenance Costs: Indiana weather can be tough on properties, so budget for seasonal maintenance like snow removal and HVAC servicing.Additional AdviceKeep an Emergency Fund: Unexpected repairs or vacancies can arise, so having 3-6 months of expenses saved will help you weather any surprises.Build a Reliable Team: I have lists of contractors, handymen, cleaners and property managers if you'd like me to send.Good luck with your property and future expansion!

Detroit has a mix of affordability and strong rental demand, with properties under $200k that can cash flow if approached correctly.

Areas near downtown Ventura or the college (Ventura College) are worth exploring for strong tenant demand.

But, they will be in challenging parts of town where realistically you do not want to own property and your long-run returns will under-perform.I'd encourage you to find a balance of sub-market growth, nearby employment, strong income, and only then a good rent-to-value ratio.