Morning Clayton, glad to see you're hyped and actively learning about REI!
Do you need to have the property in your local area? Out-of-state turnkey properties could be a great alternative source of cash-flow - alternatively, you could look for deals in a wider radius of your current location. This is an dilemma many other BP members have, and I'm sure there's a few threads out there that (like this one) hopefully give you some insight into how they handled it. You should consider your budget, your risk tolerance, how much time you're willing to invest in doing research, and what skills / connections you already have. That will help you determine what kind of approach towards property types / financing / investing in general, you'll want to take.
It seems like you've already accumulated a sizable knowledge base - have you read the Ultimate Beginners Guide already, as well? It addresses some of the "how much money should I have on hand" questions you might have. The gist of it (of all deals) is, know your numbers - they'll speak for themselves whether or not a deal is good or not. Hope that helps, and welcome to BP!
