Where to start?!

[Sherri Li]

I am finally ready to get in the rental property business. I currently live in East Memphis and want to invest in Memphis. I want to stick with properties that are less than $100k. I've found some neighborhoods that are around that price range but I've also found that there are a lot of other rentals in those areas.  Should I talk to some property management companies and see what areas rent the best and then concentrate on buying in those areas?  Or should I work with a real estate agent and find a property and then hope that it rents out amongst all the other competitors?  Or am I putting the cart in front of the horse and I should be doing something else first instead?  Thank you for any advice!