If you are talking looking at a $20 million case, then you have a wide range of options. 

A HELOC will have a floating rate- right now they are in the range of 7%.

There are opportunities within the price range you mentioned, you’ll just want good local guidance about the areas to consider/avoid since Indy can vary a lot.

The size of the lots range anywhere 1.5 acres to 3 acres.  

I use it as a starting point but always double-check with Zillow, Facebook Marketplace, and actual property managers to get a more realistic range.

What are other investors in the area paying annually per unit in insurance (approx range) and water + sewer + trash?

As for the gas meters in the basement they are currently running just ranges and dryers no heat.My goal is to convert to all gas and have individual units for each.

TIC's can work sometimes with limited investors in the project.If you do not own directly you are giving up some control.If for example you are accredited investor and worth say 1.3 million and have 200k with an exchange it might make sense for TIC or DST because you might not not generally otherwise afford a property in a nice urban core to suburban area that cost 2 to 3 million with 600k to 800k down etc.If someone is exchanging 1 million and looking to buy a passive NNN asset where they do nothing and collect a check to own 100% in the 3 million price point range that can be realistic.

Quote from @Christopher Rubio: Hi BP community,I’m new to investing and currently looking at out-of-state rentals in the $80–125K range.

It’s one of the few places where you can still find properties in the 120–180k range that hit the 1% rule and cash flow while also sitting in a city with strong long-term fundamentals like population growth, job growth, and massive company investments from Intel, Amazon, Google, Honda, Microsoft, and more.