With a good pool of renters in the area, rents have increased in the last couple years but are now leveling out.  

I recently saw a spreadsheet detailing a hedge fund's purchase of a 40 loan, $15 mil UPB, loan pool.

I haven't personally done this since I've stuck with SFRs, giving up some of the better cash flow and diversification from multi's in exchange of a better renter pool, appreciation, and liquidity of SFRs.... again, a great question for your mortgage broker/banker, though; this is why it helps to network and build your local REI team, as well as your virtual one here on BP ...

I might have just made you $10k with that tip, you are welcome.

Maybe it’s my inexperience.Anyway, I’m hoping to get some advice or tips, preferably from investors in my area of central KY that can understand my situation a bit, and help me figure out what to do to get my first deal under my belt.

@Devlin Harding, thanks for the tip!  

The pool of buyers in a few years might be limited.Is this in the Gainesville city limits and subject to the landlord permit fee?

If you're on the gentrification line, you might want to swing a little harder and see if you can improve your tenant pool, but if you are buried between the airport and demarcation line I would probably go as inexpensive as possible.

What I need is guidance, tips, networking, and more education.

@Thomas Franklin I will take your questions as really good tips, I still have a lot to do.