This concept aims at addressing the challenges of what to do with defunct suburban malls and maybe even empty big-box retail store spaces that are in desirable and affordable neighborhoods.

I would purchase a duplex (or even better, purchase a SFH with as many bedrooms as you can afford and rent by the room), and then slowly improve the property. 

Here are a few things that I like about the neighborhoods in Indy compared to other states: high rent-to-home-value ratio, consistent and gradual city development, relatively low property tax and insurance cost, affordable renovation service cost.

If ADU garage conversion is permitted I would say heck yes - especially if you can afford it and you don't use that space.

High property prices mean fewer people can afford to buy, so more people rent.

This my friends on BP is just the reality of Real Estate you have two basic methods One mom and pop keep their day jobs and start buying long term hold rentals as they can afford them and if they like it they keep at it..Two you jump in the game and try to make money transactionally IE RE Broker  Flipper Wholesaler MLO  leasing agent etc etc.. this also is a long term ramp.. what the Guru programs attract generally speaking is those that get excited think they can somehow buy a program ( any program pick one) and its going to jump start them to this mythical financial freedom everyone talks about..

This plays into the affordability issues for tenants by allowing them to live in nicer neighborhoods for less money, yet I get monthly revenue comparable to short-term rentals.I have also shifted my focus to buying better.

With rates high, I don't see much changing in the market as buyers struggle to afford a mortgage. 

Most people cant afford that alone which means a syndicate or getting PMLs involved and doing the synd yourself. there's nothing wrong with starting with some smaller properties.

But keep in mind if your using money you cant afford to get back then buying action property might not be appropriate for your current endeavors and its better to just buy open market were you can do proper due diligence and know you have a build-able site.