Joseph, Missouri for pretty reasonable and affordable properties.

Initially I was thinking long term rental but the market is just not priced that way to have good coc doing that (Max 6%)Recently I ve been entertaining the idea of doing STR to achieve my goal.

However, the interest rates are super affordable and I'm not betting on home prices going down in Indy anytime soon, but they might stabilize and stop increasing so rapidly. 

It will depend on what amount you get qualified for and what you can afford.

Interest rates are still low, I'm assuming you would be able to swing the 20% down to avoid PMI, and qualify for a pretty affordable fixed rate loan product.

I wanted to be in the neighborhood I bought the house in but couldn't afford anything but a fixer upper.

Turns out most of the owners in the complex are young like me, cannot afford high HOA fees, always turn down fee increases.

is also an interesting question, however, I'm here looking for solid help, not entertainment.)I'll need to come up with something by Monday.

Over half of my units are priced so that a they are affordable to "low-income" renters and over half are one bedroom units which probably is part of the reason why I've seen a relatively high application rate.

I am a principal in a small family business that owns GP interest in 800+ affordable units (tax credit financed) in CA, AZ, NV operating for 15+ years.