A few of my concerns/questions:Do the expenses seem realistic?

And from a realistic standpoint, yes you are correct. 

I mean realistically would it be when schools out?

However to be realistic it takes a fair bit of time to learn. 

What is a realistic COC return and total return I can shoot for on an average BRRRR deal in Indianapolis?

She did give me a realistic sales value. 

Your biggest hurdle would be finding properties that fit the bill, realistically in a year you could probably do one, if you find a property that works. 

I could delay payments for 8 months using the remaining $20k to try and sell for 226k, but realistically sell for 190k and break even if sold in 6 months but, duplexes from 190k-250k have been sitting on the market now for over 130 days and more.Repairs needed: new subfloor on the first floor ($3500) new kitchen and bathroom (received quote for 10k total for both), roof patch flat tar roof and replace gutters (approx 3k).

Realistically, expect approximately 3% as nonrefundable option money. 

Building up a quality database of potential investors can take you many months and more realistically years.