Were hoping to set up shop in Indianapolis or another location in the next 2 years.

Be sure to shop around for Lenders, because, they are all different.  

I picture its location, and I can only picture that it has enormous potential.You have easy access to the Pike from multiple parts and subsequently commutability to both the I-495 and 128 technology belts, a commuter rail station to Boston, a growing public university, vibrant shopping at route 9, a bunch of relatively new reputable breweries, etc.

I recommend if anyone go this route, shop around.

After shopping around, they decided that staying was the best option (we raised the rent $200/mo, and it is STILL under market value by at least $50-100!). 

Giving yourself the title of  CEO / President when you are older but only a 1 man operation is also common and pretty much ignored.One person I know that is a in their 40's and is a one man shop gave himself the title of 'Director of Acquisitions' .

I think you can definitely choose to shop around a little for lower closing costs.

I'm not sure I'd want to change zoning, the variance you have can be more valuable and I might suggest you look at a small mixed use, say an office or barber shop or something and living quarters.

My crystal ball is in the shop. 

If you aren't currently using a management company, start shopping for one.