With the current influx of so much money into the rental property segment, based on what I have heard and read, even if I could raise the capital, large multi family (apartments) are not really an option.My area of southwest Missouri isn't a large population, so there are not to many opportunities other than single family homes that would be within range for me to manage personally. 

As I learn more details about the Indy market, it seems like there is so much going on in the city with different initiatives and development that it can make these areas of opportunity.

I will also continue reviewing and looking for seller financing opportunities. 

It looks nasty, but that is also going to keep others away, which makes an opportunity for the brave!

These tenants were on a month-to-month lease, which gave me the opportunity to adjust rent rates.

@Billy Britton I am sure there is an opportunity for someone who wants to take on the challenge of dealing with this type of tenant.

Not all of these properties are a great deal, but they often offer you the opportunity to buy something below market value.If your numbers on the deal you found are close, that’s a real investment opportunity.  

In other words get your financing lined up - inspectors / contractors you can rely on etc... then when the opportunity presents itself you can act accordingly.

There's opportunity around all of us, if we look in the right place.

If you are ever going to borrow money later it will likely be at worse terms than the three loans you outlined above.I would invest any money you were planning on using to pay these debts downs on opportunities that pay greater than 5.49% returns.