I currently have around 20k cash for a down payment and that is steadily increasing so I want to pull the trigger soon.I'm interested in Fort Wayne for a few reasons:- I have some family in the area (they won't be involved, but have some general knowledge of the area)- Decent schools- Low crime- Airport- Low pricesAny advice or connections are welcome as I am completely new to this.

Brand new to real estate investing and I am looking to complete my first wholesale deal. 

So you're not completely anonymous.

If I don't to that, then my interest rate goes up.This is completely new to me, and it's a bit of a bummer since that would delay me getting my first STR that I have been saving up to get for a long time.

Full gut renovation, including but not limited to full replumb, full rewire, complete mechanical upgrades, and new apartment finishes from studs.

@Jim LynchSome typical minimum tenant screening requirements look like the following, but it depends on your market:-Renter has a gross monthly income of 3x more than the monthly rent-Minimum credit score of 650-Renter must have no prior evictions-No felons (or other notable criminal history)There are a number of different tenant screening softwares out there such as Zillow Rental Manager, TransUnion SmartMove, etc.Be sure to complete an employment verification by contacting the renter's employer and confirm the details they shared with you, landlord verification (if they have a previous landlord), credit check, and background check.

Ineffective or Absent Conflict Resolution ProcessEvery successful group of people needs an effective conflict resolution process characterized by:simplicity to understand and remember;quickness to start and complete;a clear vocabulary.My company, Livingsmith uses and recommends the 5-on-5 Process for conflict resolution in co-living homes.2.

Determine at what percentage of completion you'll pay for work done. i.e.

Just ensure to complete necessary due diligence - this can include, but is not limited to, title search, property inspection, appraisal and/or survey. 

I’ve read Kiyosaki’s books, too, and they completely shifted the way I think about money and investing—such a game changer.