Recommendations on buying out of state rentals?

[Benigno Cunanan]

Is this a good deal or not? Memphis, TN 39118 3:2 SFH Built 1970s but full renovation to include roof, HVAC, floors and more costing about $35k in 2015. Currently rented for $915. Market rent is around $950 to $995. Long tern tenant since 2016. Listed for $95k I Offered $78k Countered at $82k today. County website appraisal is $89k Comps are from $69k to $100k Rental income: $915 Vacancy: $70 Cap ex: $70 Repairs:$70 Prop management: $75 Mortgage PiTI: $525 if accepted at $80k with 20% downpayment Cash flow $100 Is this worth it?? First property btw

[Cassi Justiz]

Overall it doesn't seem like a terrible deal from just the numbers assuming the rehab was done well and you don't have to do any work on it. The cashflow isn't spectacular, but if you are budgeting $210/month towards reserves and still coming out with $100/month cashflow it may work for you. 

I don't know much about Memphis as a rental market, so definitely do your diligence there.

@Ricardo Navarro gave you some solid information on the Memphis area.