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

The power of leverage is one of the main benefits that distinguishes RE from other investment choices, and the refi is where real wealth is made.

Also, its much cheaper to send a larger volume of street view postcards or letters using a large printing company than it is to send through deal machine.

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?

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

For example, South Cape has larger tourist destinations such as Cape Harbour, the downtown area, Yacht Club, Marina Village, etc, where there's really nothing comparable to any of those districts in the Burnt Store area.

What flooring choices are best bang for buck in each area of the house?

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

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).

This was only cashflowing $250/month- I ended up selling the 4 unit for breakeven because that was a money pit- I've also spent the last year underwriting larger multifamily properties.