We just need to figure out where to base it (eg.

Then, run your numbers on the potential STR income - what are your expenses going to be (they will be more), and what is your projected income based on looking at competition in your area on the sites?

. - I would suggest posting here on biggerpocket in the classifeds section, on real estate Facebook groups, and find some local agents/wholesalers.Make the downpayment and interest whatever you want based on your current needs. 

There are still areas where you can buy units for $200k/ door but they require a lot of work usually and covering all operating expenses and interest payments can be challenging base on low-ish rent levels in some places.

It sparked a passion within me for real estate investing, particularly with the dream of building generational wealth.I'm based in the vibrant Denver, Colorado area and I'm reaching out to this community with hopes to connect and network with fellow investors.

Sell the property and use your low interest rate as a bargaining chip for a higher price if the mortgage is assumable or just sell anyways.

How would you screen high quality tenants based on what criterial; credit score?  

Adapt your approach based on the local conditions and keep refining your investment strategy as you gain experience.

Lots of coastal money hoovering up deals that look like major bargains compared to where they live and/or what they are used to... 

Not only are you new to lending, but - even if it was a secured loan - I"m guessing based on the amount it'd be in second position.