Hi,I am in the process of deciding a tenant whose credit score is 556.

So glad you've discovered Bigger Pockets early in your real estate investing journey...and it looks like you've already made some good contacts here from your area....A few tips that may be helpful to you here on the BP website:You can set up keyword alerts so anytime someone posts about KC, Enterprise, or any of the specific markets you're evaluating, you'll be notified.

I have excellent credit, steady income and plenty of cash reserves. 

I have funds and also available credit to front the rehab costs.

It got me thinking about the nuances of negotiating with people in general, and I thought it might be cool to hear some quick tips from others that have been useful when negotiating. 

My credit score is great (770), I have enough for another down payment (20%) but lenders still can’t lend because I have around 230k in debt from the other home.

This gives you time to plan your next move, improve your credit, build up a down payment, and Next, the FHA mortgage can be used on property when you agree to owner occupy; if you want to use as investment, then find a plex unit and occupy one unit.  1 to 4 units are still considered residential, while 5 units and up require commercial lending.All the best~

I would love some tips / strategies on getting started. 

Indy is business friendly and has a AAA credit rating, lots of jobs and has had a steady 3% population growth over the past 30 years.

Any tips welcome thank you!