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Still in Free Rotate mode try clicking and dragging while the mouse is outside of the circle - you will find you can rotate the object.
Something else you will need to do is Zoom - this means changing how far away the viewer is from the object, you can get a magnified or diminished view of the part. An easy way of doing this is by spinning the mouse wheel. Try moving the mouse to the top right of the screen and spinning the mouse wheel forwards, then spin it backwards. Now move the mouse to the bottom left of the screen and spin the wheel - did you see what happened? Now you have a lot of great ways of moving the object around the screen to allow you to see any aspect of it.
Once you've clicked on the number you should see a screen like mine and be able to use the box to change the dimension. Type in 50 in to the box. Inventor is probably set up to use mm by default on your system so you don't need to type the units. Click the tick to confirm and watch your rectangle change length. Notice that the other side changes as well.