Nathan, I strongly recommend that your first iaito be an aluminum alloy, rather than steel. I have students who have started with both, & almost invariably, the ones using the lighter blades do much better. What you're first learning is control of the blade &, of course, of your whole body. One new student is a Marine about 6'2" & 220 pounds, & he is having problems with his relatively short (2.30) iaito, so it's not a strength thing. I've trained in MJER for several decades, & only switched to steel about 5 years ago.
So a simple iaito with a basic suguha hamon (fake, of course) will do you just fine. Tozando has a great selection, so I recommend buying the least expensive one you can find, & plan on upgrading it after you earn shodan or nidan. Good luck!
Ken
Ken Goldstein
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Judo Kodansha/MJER Iaido Kodansha/Jodo Oku-iri
Fencing Master/NRA Instructor
"A positive attitude may not solve all your problems, but it'll annoy enough people to be worth the effort."