Indianapolis is the 16th largest metro area, fastest growing city in the Midwest, AND the 2nd most affordable metro area behind Memphis.

This isn't to say you need to go out and leverage an apartment complex, but most of us can afford a cheap rental here or there in the markets we are selling in.

Apple and google creating more jobs there is interesting to me, as I remember when Seattle was still "affordable."

Sometimes we get smoking deals on properties because they have a material defect that the seller doesn't know how to fix or can't afford (foundation issues, black mold, hoarding, etc.).

The only types of properties that are affordable for beginners down here are in bad areas and even those are top dollar.

If you are seasoned from a lot of flips you have the means (contractors, knowledge) to deal with about everything efficiently and deep enough pockets that you can afford to loose money on one deal. 

Possibly if they inherit once the estate is settled they can afford to go. 

Desperate tenants who are poorly qualified will promise you whatever rent you ask, and then they can't afford to pay it once they're accepted, so make sure the rents are realistic for the median income of the area.

Things to consider: 1) You'll probably be approved for much more than you can actually afford.2) The VA loan has a hefty funding fee and is 0 money down. 

Yves,When you buy an investment property you do not have to live in that area just show you can afford the mortgage.