With your budget, you could get multiple deals here in Columbus, but I recommend starting with one, getting it stabilized, then moving forward from there.

I'd have a Home Inpsector and/or General Contractor go over the place and make a list (Scope Of Work) with a tight budget.

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?

Costs will always go over budget. 

Be conservative on budget and time.

@Joe BellevilleTo build a successful multifamily property portfolio in Grand Rapids, set criteria for property type, location, and budget, build a team, analyze deals using the 1% rule, leverage house hacking, leverage local knowledge, prepare for tenant management, network, and focus on long-term goals.

Even without a budget for repairs/etc - let's just define "cashflow" as income left over after PITI & utilities for a moment - Mac Groveland and Highland Park are going to be tough.

We budgeted $100k and that’s our goal but have extra just in case something pops up so this $120k is a high number.

I had the same lessons learned from BRRRR's and flips I've done in the past: they almost always go over time and over budget!

You should budget around 2-5% of the purchase price for closing costs.