Given your goals, Indy could be a great fit—affordable pricing, solid appreciation, and strong Section 8 demand with reliable property management options.

Are you basing this solely on what you can afford, or what you intend to make on it, or your target sale price? 

This is mostly due to affordability and for potential ARV options.I had a good friend buy a property in Indianapolis off of Union Street for $60K she put $48K into the home which was a total dump and was able to refinance the home to pull cash out in 12 months.

Its affordability, ongoing revitalization initiatives, and strong rental market contribute to its appeal.

Mozeo is a fairly user-friendly software, and very affordable.

Ability to repay - can you as the borrower afford the payments based on the loan amount.Typically they will not take into consideration the mortgage on a new property that has not been taken out as that is new.

You can't afford to wait to act any longer.  

You could also get a line of credit for about $150k (you should be able to borrow 75% of the value.)The reason I suggest this is…1) you save $40-$60k in selling costs. 2) you have a lower blended interest rate (2/3rds at 3.25% and 1/3rd at 7 or 8% instead of the whole $500k at 7 or 8%) saving you another $1k/mo in interest. 3) you only pay interest on that $150k when you actually use it, not from day 1  Unless you hate this property, or want to buy something you can’t afford without selling, that would be my plan.

It's got everything to do with people just not be able to afford it, even if they wanted to.

Even the best property management companies (PMC) struggle with:- Finding reliable handyman and contractors (ServiceTechs)- Same with affordable ones- Tracking preventive maintenance- Tracking previous work for potential reoccurrence warranty coverage- Understanding tenant reported problems, so the correct ServiceTech can be dispatched- Determining if tenant is at fault for an issue & should be charged - and will proof stand up in court?