Investing In Memphis

[R Miles]

Hello Everyone,

I am getting into the market in Memphis as a first time investor. My goal is to buy and hold an SFR or duplex, and potentially generate a healthy cash flow.

I'd appreciate your thoughts on the following questions:

1) What are the best neighborhoods for cash flow in Memphis? I have heard good things about Sherwood Forest and Colonial Acres as areas that are difficult to get an accepted offer in, but a gold mine if you can get in?

2) Is a SFR or a duplex better as the first property for a new investor? What are the advantages/disadvantages to each?

3) If after crunching the numbers they fall below the proverbial "1% rule" or the ROI isn't as strong as one would like, does location and potential long term growth and appreciation trump those factors?

Thanks for your thoughts.

~ Rochelle