Real estate is not liquid at all, and most folks need access to their capital when they are older for health care and other important life events.

Sounds like whatever band-aid job was done, wasn't done properly.

I’m not keen on band aid fixing a basement, but there might be a cheaper option.

One of the biggest aids in our investing was our realtor's connections.  

You may have additional protections due to the fact that you occupy one of the units, so read your landlord/tenant laws carefully, and there should be a legal aid hotline that, while usually dealing with tenants' issues with landlord, may be able to guide you. 

1) Diverse employment (government, healthcare, pharmaceuticals, and many other industries)2) Steady population growth in both the city of Indianapolis/Indianapolis metro area.3) Landlord friendly laws (never tested this myself but I heard it to be true). 4) Decent cash flow and appreciation (a reasonable amount of inventory that cash flows and can reach the 1% rule)

Healthcare and the universities have always been a strong point of the area as well.

Those in favour do so because they  drank the Kool-Aid believing from others it is necessary and are paying for the physiological security. 

Wherever you choose pick a premium location with easy freeway access, good schools, good healthcare options nearby and closer to PDX airport (less then 30 minutes).

I graduated in 2016 with a degree in Healthcare.