However, the approval process can be pretty tough, especially if you're working on a larger project or have a shorter timeline.Private Lenders: These options are typically much faster and more flexible, which is key when scaling development projects.

The MLS is the larger cost of the two that I truly don't need.

Selling several properties and using the proceeds to purchase one larger property.

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?

Consider buying, rehabbing, renting, refinancing, repeating, expanding into larger multifamily properties, or diversifying into other markets.

One thing I did note is my insurance is $3K a year lower due to the monitored fire suppression system in these larger properties versus my smaller properties that sleep 12 or less built close to the same time.As someone who has lived in Illinois twice, the politicians there don't care if people burn as long as they can tax and spend. 

@Mary LopezYou have to ask around to local commercial lenders or some of the larger Finance of America type lenders.

The bigger it grows the larger the potential for someone to cry foul, and the hammer comes down.

Larger families, remote workers, or investors could see it as ideal, especially if local schools or amenities like parks, dining, or entertainment are strong.

You should definitely be able to find decent multifamily properties for under $200k, and multifamily would be my suggestion for starting out if you can swing a larger down payment (depending on loan type, you MAY need 10% more for a multifamily vs a single family, but not always).