While starting with a real sword in iai may seem like a good idea, it would probably be in your best interest to start out with an iaito. It will save you money during your practices, and will likely prevent a good amount of blood loss on your behalf. The only downside is the lack of cutting, which if you're starting out is no big deal. While it's fun, it's not something you have to do right away, and it can wait.
I suggest that for a good starter piece, fetch a fair iaito from Tozando for under $300 and when you get into cutting, you can get a cheap Hanwei "Practical" model for less than $200, or you could get something more expensive.
Of course, you want to go with your teacher's guidance as far as what to get. If you are one of those folks who wants to learn on your own, I STRONGLY recommend you go the iaito route.
However, if you need a decent starter all-around sword...Hanwei "Shinto" model is not too bad, but for a little more ($700-range) you can get the Cicada Forge mono-steel model which is quite a bit nicer. Remember, these are not top-of-the-line swords, but they will do fine for practice, and they are relatively inexpensive.
Be careful and good luck,
Shinryû.
I am begining to study Iai (The art of drawing the sword).