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.

Conventional retirement accounts only allow traditional investments such as stock, bonds and mutual funds (you and I have no control over the performance of those investments).

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.

I've never bought real estate and I've only looked at doing it through traditional realtor listed and realtor purchased. 

., cap rate is more of a metric to compare and value commercial properties.

Given that a comparable down the road just sold for $229,000 and spring is a hot time of year for real estate, her realtor probably gave her a fair estimate.

If you are paying 10%, that's pretty high compared to conventional 30 year fix at 5.25%.

Get some more data in your system so you can actually see if its working(compare round to round).

So, I should stick with a traditional HELOC or do an interest only until I refi the property?