I also own properties in the Bay Area that I purchased in 2012 (rock bottom prices compared to today) and they don't cash flow anywhere near as good as my turnkeys (which I purchased as the market started to rebound and I got priced out of my local market)... even with all the markup.So, if you can't find deals locally, turnkeys can be worthwhile.

Comps and getting DOM data in Indy is a real challenge, so any info you can provide on that would be helpful also.Some of you know I cross reference websites all the time, here is a new one that looks promising that I received the other day:  https://www.investability.comYou guys ROCK.

The plumber was suppose to replace a hose bib, but instead reattached the handle with a screw he found laying in the rocks beneath it.  

As @Minh L. alluded to, if you have deep enough pockets, you can get rock-bottom variable-rate multifamily pricing near 3% in the market right now.

That would make you a rock star wholesaler.

Invest like a Rock Star and buy all but the brown ones.

What Many investors totally miss the point on is the asset class's you can have the most rock star PM but if your tenant base in High touch and transient by nature your going to have to work within the SOP's of the tenant base.

When it finally did a year or two later (depending where you were in the country) I hit rock bottom because I deviated from my business plan.

I mostly blame my naiveness in humanity and eagerness to get the project going.. here are many of the items (not all):All 3 HVAC units went out in the first 3 monthsBoth "high end" endless water heaters died within 6 monthsThe 1918  LEAD pipe entering the home burstSome lighting was found to be battery operated instead of electricUnfortunately a rock from DC water entered the piping which resulted in multiple cancelations and major repairsNo insulation between the upper and lower unit resulting in numerous noise complaintsPitch incorrect in back yard which results in floodingPlumbing piping incorrectly sized throughout homeAll gas lines removed and everything replaced with electric to pass city inspection easier (only house on the st without gas)Oh yeah, furnishing a two units that can sleep a total of 16 people is not easy nor cheap (especially with a puppy).

Housing market started massive foreclosures in 2007 but the housing market didn't hit rock bottom prices unit 2015 in most areas.