You do limit yourself if you don't leverage opportunities outside of your local area, but yes, it can be a good way to find solid lenders, contractors, wholesalers, etc.

Pretty solid numbers.While starting with Propstream is better than I've seen others start with, we need to ensure we're conducting market research to determine which zip codes to market to.

Visio has a solid financing product for STR's 

I have solid credit and good cash flow.

This is pretty much the most that the housing authority will be willing to give you for each recipient based on the number of bedrooms. 

You could take a picture of it and text it to the correct recipient as evidence it's there and that you've not touched it, just in case it goes missing.

I'd also recommend when trying to contact the owner you do so after gaining a pretty solid feel for what the home is worth or what an investor in your area would pay for it. 

I am ready to purchase my first few properties in Chattanooga.I travel to Chatt fairly often but would like to have a more solid feel for the area in terms of where to place my first investment, I am currently looking in Red Bank.Though I don’t plan to rent immediately..I will likely house hack for a year (ideally with a MIL suite or basement) and rent it out afterwards while I then focus on getting a stronger foothold in wholesaling.

Option #1 sounds good.Look at your Option #2:You have already planned to wait 4 months to save 3k on your current REFIYou are increasing your pool of cast at 2k per month, a projected +8k growth in your cash pool.If you put your cash on that pay down, you say you will save ~1k  (equivalent to 1/2 month) and you take your self out of the market for your second investment for 4 or 5 months.Just be sure to hold your horses for a new investment that has solid cash flow and not be depending on current appreciation rates.Your focus on REFI makes me wonder?

I will be turning 18 in a couple of days  I only have 4 months of solid work experience so far, what is another way I can obtain a pre approval letter for hard money with limited history in work, and no experience in real estate?