That time is gone now nationally for multifamily.

I've recently talked to women who don't know anything about investing in general, as in they leave their money in savings account earning 0.1% interest or say that "it's too late or I'm too old".  

That rate is going to be a "national average"...not the rate that all lenders will offer. 

MLS is a service of the National Association of Realtors, so only Realtors can list.  

Specifically, the areas near Wake Forest Medical School and Wake Forest Baptist Medical Center have attracted investors, as students are seeking rentals during residency.Favorable Tax Laws:  North Carolina boasts relatively low tax rates compared to many other states, with property taxes averaging at 0.70%, which is below the national average.

Foreign nationals can expect an interest rate that's 1-1.5% higher than U.S. citizens so your wife being an American does provide you with an advantage.

As one of the biggest home buyers nation wide, word has it that New Western has 4 dispo reps for every 1 acq rep.  

That might be the national average for rent price increases but I don't know if that's a realistic expectation in Memphis.

This could be an option but based on where you are you might be better of looking near a national park and rental arbitrage is going to be less feasible in those areas (but still possible). 

Find a new tenant - If the tenant does not agree with increased rent, find a new tenant (maybe a national franchise like Chipotle), with higher rent.