That was just one of my properties and I now have multiple in different vacation locations.  

Property ClassProperties are categorized by class, impacting their quality, condition, and investment profile:Class A: High-end, newly built, prime locations, attractive to institutional investors.Class B: Good quality, older than Class A, with minor deferred maintenance.Class C: Older properties with dated amenities, but value-add opportunities exist.Class D: Distressed properties in less desirable locations with high risks but potential for significant improvement.4.

To create rental income that enables financial freedom, you need a location that meets specific criteria.Rents increase faster than inflation: Prices and rents are driven by the imbalance between demand and supply.

In a market like Kansas City you can get $150 per month cash flow on average with the right multifamily property and right location.

Evaluate potential rental properties with a keen eye on location, cash flow, and potential appreciation.

My job will be on the southside of Indianapolis, so for location wise that would be better, however obviously the north side seems to have more potential.

You'll get a feel for the age of the neighborhoods, the vitality of the commercial buildings, the ease of location, the closeness to jobs.The markets you're describing are more linear, and usually have lower capital appreciation.

@Thomas FarrellRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

If you're going to do a lot of D4D, then you might want to have that, too.When I do D4D, I use PropStream to locate a number of properties in a small geographic area. 

If you did a cost segregation study on the property in the past, you may have to recapture the depreciation taken in the past.capital gain tax rates are 0, 15 or 20%There is also a potential 3.8% Net Investment Income Tax.Also, don't forget state income taxes depending on what state the property is located or your state of residency.Best of luck!