My main buyer will have the first choice at 55k which is 13% return.

I bet you $100 you’ll find 97% of climate change scientist predict the world population will be double at the turn of the century. 

Otherwise, you go into more and more "advanced/creative/exotic" financing.Really your best bet is to chat with some lenders. 

As for having the STR in and LLC, I feel it’s a better bet to do so.

Your best bet is to start networking with other flippers at meetups, REIA meetings, and as an agent.At the highest level, flipping is very easy, you need to know rehab costs and ARV.  

to me this becomes a very personal choice where you have to weight your Options.IE your own personal financial situation .. 

Your best bet it to run multiple campaigns concurrently as some may be more effective than others.

I'm not super familiar with this area in Illinois but I'll include a zone map to help you find some quick fixes- just figure out he zone specifically and go with a zone appropriate choice(s). 

However, the interest rates are super affordable and I'm not betting on home prices going down in Indy anytime soon, but they might stabilize and stop increasing so rapidly. 

@Stephen FooteHi Stephen- yes as far as going with 20% down and that eating away at cash reserves the best choice then would be to wait until you can go it alone.