For instance, if I switched from being mid level management to doing sales (even in the same company) the lender might decide that I have no track record in sales and therefore my income is not stable until I have been making it in that position for two years.

It's just very difficult for most to find actual deals worth picking up in its current hyper-sellers market, but it's stable and what you see is what you get, if that makes sense.

Overbrook Park is a stable working class area.

I know I saw a posting from Philadelphia officially prosecuting and aggressively going after landlords that advertise "no section 8" on craigslist , they do have a number to contact the city to report and are fining, so given the costs stated if you lose is it worth the risk, and as far as rent amount, they compute 3x the rent from the tenants contribution, since most section 8 only pay 30% or less they would always qualify, some zero income actually are 100% cover so based on contribution would qualify for any, and section 8 cant have major criminal background or evictions during time covered by section 8 they would pass that screening, so perhaps best way is to crunch the numbers or credit, to see the tenants priority on debts, some although that have higher income would rather spend money on toys and diner out, a voucher takes so long to get they may not want to lose it, and if some has lots of undocumentable income or less stable say make $30 hr but only keep that job for 2 months till they get in... have to look at each scenario , maybe if their current address is local just drive by it, may be questionable but peace of mind...

Maybe you could partner with someone to get your feet wet on a little more stable deal?

The Indianapolis market is one that has interested me for a while now - a city that appears by all accounts to not only be stable, but on the rise, with home prices in the range I'm interested in.

Would I still survive jumping into this new adventure even with a strict moving schedule for the next couple years, or would it be recommended that I hold off until our residence is a little more stable? 

And the other thing about it is that if the prices are dropping, then are the rents dropping too or are they stable?

This allows you to buy a much larger property than you would qualify for on just your income, building up a stable of rental properties.

SoCal would not be the best or right place if you're looking for a good rate of return, cash-flow, and a more stable-type real estate market.If you're seriously planning to self-manage, then you're limiting your options because you're boxing yourself into a market that doesn't make sense.We almost always recommend our clients use professional property management (in all the markets we're in).