Bingo! 

How many homes under 900ft are sold (and not flipped again with larger foot prints) in the market.

Here's exactly what I'd do in your shoes: 1) Build a solid team -- Agent, PM, Contractor, Handyman, Lender (all local pros)2) Invest in a Turnkey Duplex or SFR just to get your foot in the door and learn the area3) Then, with money left over Invest in a BRRRR and recycle that money indefinitely as assets appreciate / force appreciate4) Acquire a large fleet of Indianapolis rentals as the city continues to expand. 

I would encourage you to look at the dollars per square foot, that the other property sold for and compare it to your property’s dollars per square foot cost.Otherwise, my general feedback is two-fold… the signals we are getting from the Fed are that they are likely pausing rate hikes.  

I was using $1.50/sq foot as a rough estimate (I think I heard it from Meet Kevin).

House has a claw foot bath tub the tenant decided they wanted a second shower instead. 

This looks like a 700 or 800 square foot apartment to me, not a million dollar home. $34k is a lot of $ to spend on a rental unit rehab.Whoever owns this property, (it's unclear if it's actually OP's or not from the comments...?)

I'm sure there would be a lot less BP people being lead astray by all the 21 year old Columbus kids who don't know their foot from their elbow.

When it comes to supply, you want to avoid oversupply, as it's the best one-way ticket to losing (a lot of) money.I'd avoid Tulum with a 10-foot pole as it's already hugely overbuilt and it's going to get much worse in the coming years.

It is a 1270 square foot house with 2beds/1 bath.