Look into tools like CoStar, LoopNet, and ARGUS for commercial property analysis, and consider books or courses on underwriting and market analysis.

Do to an anomaly pertaining to the appraisal district, the total value of the two lots was divided equally between the lots instead of allocated by market value.  

I used a heloc to purchase the first 4 rentals, so $155k of dept is wrapped up In  that until I refinance each property which have already appreciated extremely quickly given the current market. 

Loan sizing varies by market, but in most areas your loan will be sized to 75-80% LTV; 1.20-1.25x DCR; 30-year amortization.

A frank, hopefully insightful, dive into real estate and financial markets.

I am in the Memphis Market as well. 

Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

Quote from @Kishan Purohit: @Heath D WallaceTo get this deal to cash flow, you could look into increasing the rent if the market allows or reducing operating expenses, such as lowering management fees, vacancy rates, or insurance costs.

I have found some of the best contractors from Facebook groups in the local market for example "Real Estate Investors of Oklahoma City".

All look in-line with typical market pricing.