Locally, I look forward to soon having my VA loan seasoned to refinance and fully rent out, and acquire another property. 

If you would like to jump on a call soon I'd be happy to share my local insights with you.

I’ve seen a couple of the local guys switch their strategy to one- and two-beds.

Things like landscaping/snow removal and labor cost for repairs are going to be highly variable based on your market so you'd need to do your own research on the going rate by either talking to other local investors, running your own google search, or exploring basic services on thumbtack/angies list etc. 

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?

I'm only guessing but based on what some of the local project managers were saying is that a typical family of four that was paying for a three bedroom cabin decided they could get by with a one or two bedroom with a loft or a pullout sofa so the demand from the larger ones went up. 

Companies like PolicyGenius do an excellent job selling personal lines coverage (property/casualty and life, mainly) more easily (and maybe more cheaply) than your local State Farm agent.

The team has to consist of a local realtor with experience in the areas, a lender with experience in commercial lending, and a contractor. 

If that's not an option than you'll have to close and serve notice yourself and abide by your local laws.

They're good to have open access to capital/cash/equity to a property ahead of time so you can execute a deal or purchase when the time comes on a split second decision (versus having to apply to a loan at that time which might take 20-45 days to get approved/closed/etc plus by that time you dont know what your future income/credit/assets will be like in order to qualify anyway).The second use is sleep at night factor and having a reserve of capital in the event an emergency event occurs in life.For these two reasons is why I use lines of credit.