Also figure out whether the work involved is worth the expected returns.I found that getting over to do work on a house I didn’t live in to be far more challenging than anticipated (so I won’t be attempting any flips in the near future).

I'll keep this in mind as I search for the right professional to support my endeavors.

should I pay a professional to do the work or do I attempt DIY?

Best of luck on all your future endeavors. 

It would be a good attempt to tell them to up their offer to $224k to cover their closing cost though.

Would you recommend a "rookie" to invest out of state as their first endeavor?

However, in the next couple weeks I'm sure I will be attempting to turn the lines into cash and make a purchase.

Nice job and best of luck on your future endeavors!

Anyone here have experience in this area to point me in the direction to find out if STR is allowed where I am attempting to purchase?

After speaking with lenders, just a hand full, I realize there is a gaping hole in what I am attempting to do here in Memphis.