What is the Minimum amount of capital I should have before I start looking for a property? 

Evolve Vacation Rental:Evolve is known for being hands-on with STRs, providing everything from marketing to booking management, guest communications, and cleaning coordination.

Is the market oversaturated now?

First capital outlay is long before any income. 

Say what you want about that but I'd be looking out for myself and if the person doing the reference checks isn't smart enough to go back further... that's on them. in markets for rental areas that have high proportion of tenants  like the mid west were something like 50 to 60% of all folks rent.. your telling the truth flat guarantee most landlords with a bummer tenant is going to say anything they can to get them to move on.in nicer areas of A class 700 fico tenants this is not really as big of an issue

I would think duplexes would do best in the market. 

Access to quick capital allows you to take advantage of cost-saving opportunities, like bulk purchases, without stalling your project.

Typically 1k and up depending on property value and competition for taking it off market.

I'd start with Vacasa and Evolve customers in your market and unapologetically state that you are new, hungry, and cheap.

They have rehabbed and sold thousands of properties...I think they do a good job of handling the rehab plus they put in "market rate" tenants.