Before this purchase, I had two other properties under contract but had to withdraw due to unfavorable inspection results.

If it declines temporarily but you have good cash flow then it doesn’t matter.Thats my two cents, hope it helps.

If you get a salaried job after college that would be best possible situation as you wouldn't necessarily need the two years of work history.My last two pieces of advice is of course watch Bigger Pockets Podcast as much as you can to learn!

I'd also recommend joining a local Indianapolis based REIA asap. the REIA will provide a group of investors who could get you some contractor recommends if you decide to GC the prop yourself.You said it "needs a little work done" but budgeted $50k so those two things kind of contradict unless the home is a larger home...just curious, what's "a little work", if you haven't had an inspection yet and don't feel comfortable evaluating the costs on your own?

Why wait a year or two?

Also what is working today does not mean it’s going to work in a year from now - people can ask multifamily and others how that has worked out for them the past two yearsResidential in my mind is going to see some shifts which I see a lot of bad financing “not creative” that they think is creative and it will come back to haunt people

Usually I use trieagle and request a month to month plan and have the power on a day or two after the tenant vacates.

I find it more helpful to track on my total cash into the deal (inclusive of furniture, amenities, etc), so cash on cash and monthly net cash flow are the two metrics I find are most informative when I'm looking at a purchase. 

Quote from @Blake Van Ness: Looks like two 2x4s put together.

My question what the best value would be between the two.