Am I on the Right Track?

[Tanner Stell]

I'm brand new in real estate investing and my primary goal is to hold long-term single family homes under $50k in areas with a healthy economy, decreasing rental vacancy rates and population growth. For instance, Memphis, TN has increased in job growth and population within the past year.

Additionally, researching different markets is something that I'm spending time working on. To my other fellow investors, what is your buy and hold sentiment on Memphis and would a property like this be ideal?:

https://www.trulia.com/p/tn/memphis/89-s-pkwy-e-memphis-tn-38106--2124703190?mid=1#lil-mediaTab

I see that there is a 'buy as is' on the listing, being something that I'd try to avoid. What would be some pointers you could give me on seeking properties under $50k built from the 1900s-2000?