3) Having been a renter in this market for a while I am confident I could get the bedrooms filled.

Pretty informative for someone just getting into this...https://kimandbagwell.com/pitfalls-for-the-inexperienced-geo...And on another thread (https://www.biggerpockets.com/forums/61/topics/1152882-tax-d...) there was an interesting point made by @Sam Bagwell (I wonder if the above is his firm -- likely)... if you engage an attorney to handle the debarment and the property is redeemed, you can end up upside down even with the 20%.

A credible lender will be happy to provide them.Experience: Check how long the lender has been in business and their experience with similar projects.Red Flags:Upfront Fees: Be cautious of lenders asking for substantial upfront fees before any services are rendered.Lack of Transparency: If a lender is not transparent about terms, fees, or the loan process, it’s a red flag.Unrealistic Promises: Beware of lenders promising guaranteed approvals without a proper assessment or offering terms that seem too good to be true.Poor Communication: Difficulty in reaching the lender or getting clear answers can indicate potential issues down the line.By conducting thorough research and due diligence, you can confidently choose a reputable hard money lender that meets your needs.

I’m confident I could rent it out for 3k.

For example, it could be in an undesirable or unsafe location, overpriced relative to the market, managed by a property manager or landlord of poor repute, or be substandard in quality.Nonetheless, if you’re more confident about investing in Chattanooga, there’s no problem with that either—it’s a solid market.

As such, those engaged in these practices are required to have a valid real estate broker license.

Instead, I recommend you engage a local financial advisor who will help you with your whole life situation.

Save your money, put in 3 to 4 hours per day of study (YouTube, BP, other sites) until you are confident this is what you want to do.

Very helpful and engaging. 

Once you start to get confident in the lingo and strategies, come to the forums and throw in your two cents.