I'm not a lawyer and not giving legal advice  -  I'm not a CPA and not giving finical advice  -  Simply my opinions@Ike MutabannaTo find a lawyer try checking on the Texas bar website www.texasbar.com You can choose specialties such as Real Estate and professionals with an office location near you.My $0.02 on the Series LLC concept  - I read David Willis' books - it seems he likes the use of Series LLC's for asset protection. 

For example, if Memphis has a lot of turn key activity, is there also a banking / financing scene in that same geographic area that caters to the industry?

I have posted this a hundred times:475.42-brokering without a license is a 3rd degree felony in FL.475.43-using contracts as a scheme or device to broker real estate is not legal.Brokering is the following--A BAR SALEAdvertisingBuyingAppraisingRentingSellingAuctioningLeasingExchangingFOR ANOTHER...so...this gentleman, even though believing he is doing stuff legally, is violating FL law.

The feedback i have gotten is that it is the locals that you need to watch out for -- not the business travelers or vacationers.I recommend you create a small kitchen space in your basement apartment with a bar sink, microwave, small refrigerator and Keurig. 

We do have safety bars in the bathroom but no other equipment.

Best case I'd like to build inside the loop in walking distance to shops, bars, & restaurants so any ideas there I'm all ears.

Another Tenant who called me about roaches, but when we arrived on scene, her unit looked like a diner after the lunch rush.....You get the idea.So, the idea of the Tenant paying the first $50 of any repair or trade call fee is to weed out all of the nuisance or negligent calls that tenants make. 

You’ll want to check with your own attorney to see if your state has bar reciprocity with the state you want to invest in.

This is bar far the most amazing financing available.

You have the jobs, infrastructure, bars/clubs, vs a MFH somewhere more inland, where it’s more quite, with low crime rates, schools, etc?