That being said due to the number of sharks out there I would only spend money that I can afford to lose. 

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

People start moving in with their TOH homes (back in the day when everyone could afford one) and the park starts to fill up. 

But sure as heck not impossible, it just takes a commitment to learning a very complex detailed facet of business and regulations. 

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.

About me, most of my assets are RE but in another market so I would be diversifying in that market.Potential for appreciation is very uncertain: prices have risen a lot locally lately and are as high as they have ever been, and it’s unlikely higher prices would be affordable by locals.

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.

I'd target areas near colleges or transit hubs for affordable properties, and I’d look into financing options like FHA loans or creative financing to make the most of my capital.

Housing has always been super affordable there, and new construction has increased in recent years.

I did that out of necessity with my first 2 houses and was able to buy in a nicer neighborhood than I could actually afford because they weren't updated.