The key difference is that apartments are valued based on Net Operating Income, while the others are based on Comparative Sales Analysis. 

How does the current rents compare to the local rental market?  

Here is how that would work, comparing a Payoff to investing it:Invest the $60k       Year           Payoff$      0                    Starting      -$60,000 (You are stat at a negative of $60k with a payoff)$  7,200                 Year 1        -$48,800$14,400                 Year 2        -$38,600      $21,600                     3             -$28,400$28,800                     4             -$18,200$36,000                     5             -$  8,000$43,200                     6              $  2,200 (You are finally positive)Now it is usually somewhere between year 7-10 that the property is sold or refinanced due to CAPEX costs jumping in, and/or appreciation.$50,400                     7              $12,400$57,600                     8              $22,600$64,800                     9              $32,800$72,000                   10              $43,000Where would you rather be? 

However, if you are thinking of something a little maybe quicker when compared to wholesaling, then I'd say research buy and hold rentals. 

Does this true and how much higher of a duplex compared to a SFR on interests?

I came across a really cool tool that helps you analyze regions' evictions rates and other metrics.https://evictionlab.org is the tool.You can sort the rate of evictions by states and compare stats by income levels, rates of evictions by days, and even rental property rates. 

So maybe any place in Indy is a war zone compared to that ;) But seriously, I'd try to keep to a location good enough that my Airbnb guests wouldn't feel uneasy.I'm only looking on the MLS via Redfin.

To the extent points are being captured in the Cap Rate you're actually skewing the cap rate with your leverage, which kind of defeats the purpose of that metric.Since the goal of Cap Rate is to provide a quick and dirty view of the risk/reward of a property.

Comparable units are now selling at an even higher ridiculous price.

Calculate your bottom line using 70% of ARV (After Repair Value).Do not spend more than (.7*ARV)-RC (Repair Costs)Example: House is appraised at $100,000 *if repairs are made*...7*100k = 70k.Repair costs are expected to be $25k. 70k-25k = $45,000 (DO NOT BUY THE HOUSE IF IT IS OVER $45k)Take another look at the ‘going rate’ of rent in your area, make sure your cash flow is enough to cover ALL costs and include a buffer for taxes and unexpected repairs.Look at the property yourself - try to eliminate assumptions.Have a trusted professional assess and confirm info about repairs that may have been overlooked.Look at how much work you can do on your own and compare it with contractor rates to complete all repairs.