TN rental properties - worth it?

[Leo Koonan]

Hi Guys,  i see a lot of properties available for investment in and around Memphis TN area. Does anyone owns rentals there?  are the laws favorable towards landlords? (tax, hassle like business licenses, building codes etc) ? or is it going to turn in to a nightmare for an out of state land lord?

[Jack Inman]

@Leo Koonan  Memphis is a major player in the single family rental market for good reason. You'll find high rental rates relative to the acquisition price and favorable landlord laws here. I've personally evicted a tenant and gone through the bankruptcy courts when a tenant who I was evicting filed bankruptcy. The eviction cost less than $200 and the tenant will be out in less than two months; very easy and straight forward process. Usually the tenant doesn't show up and you get a default judgment. 

If you do your due diligence when placing a tenant then you likely won't have an eviction in the first place. (My eviction was a tenant that was in the property when I bought the place)

Let me know if you have any specific questions,

Jack