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Another route to go with a budget like that is a series for HBO, Cinemax or other cable networks.
RedShoe Diaries was produced for $10k an episode back in 1993, it's still a successful series. Cable companies are always looking for something new, unique and if there is an r-rated twist to it, you'll do better.
Make a pilot and submit it. You'll have to produce 13 episodes per season (year) when you have a buyer.
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