I strongly suggest you talk it over with experts who specialize in Memphis.

They’ll help you identify properties with strong rental potential, offer access to a network of contractors and inspectors, and negotiate a deal that works for your goals.

With your CPA background and audit experience, you already have a strong foundation for analyzing deals and understanding the financial side of real estate—a huge advantage as you dive into this new journey.

If you invest into an area that has strong growth and good employment numbers it can overcome many other Cons.  

The demand for affordable, shared housing is strong here, so filling vacancies shouldn’t be a major concern.

Specifically, I’m drawn to distressed properties, such as pre-foreclosures and foreclosures, because of their potential for strong returns and lower acquisition costs which I feel is a great combination for a new investor with my budget.That said, entering the U.S. market as a Canadian comes with its own set of challenges, and I want to make sure I’m approaching this the right way.

However, I have no idea how to choose from the remaining cities, it seems there are a lot of potential options:- Midwest - Michigan (ie: Grand Rapids) seems to have options, also seeing Columbus Ohio and Indianapolis coming up- Reno - I've seen mentioned several times on here- Pittsburgh / Philadelphia / Twin Cities - All mentioned as lower cost to get started, and seem to be experiencing growthI'd ideally like to find a place that has strong potential for future growth, a diversified economy, and I don't mind living in (being close to nature would be a plus). 

Obviously the best thing is to come to a compromise civilly, assuming they’re strong tenants.

@Seth Rose I strongly recommend you find the best cash flowing property possible and buy it with financing out of the gates, rather than go the BRRR route. 1.

Stabilizing prices in cities like Austin may offer some opportunities, but competition for starter homes remains pretty strong.