At the very least you get practice running numbers and if you share your thoughts with the realtor they will have a better idea of what you are looking for in the future.

I’ve been exploring strategies like the BRRRR and am keen to hear about others' experiences.I’m here to learn, share ideas, and contribute wherever possible.

Great idea.

To answer the title of your post, selling fsbo can be a good idea if:- you have experience selling RE- you price the home to sell- you have systems in place to collect inquiries and facilitate showings i.e. call center/email/google forms for screening inquiries, showing agent, lockbox, security alarm, etc. - you have dozens of local agents who can market the property for you and bring you a buyer- you are listing in a desirable area with low-inventory - you are not in a rush to sell

Im just now realizing our potential with the first investment and had no idea what a great position it put us in to move forward.

It’s also a good idea to network with local investors—there are groups and meetups where you can connect with people who can share their experiences and give you the lay of the land.If you want to chat more about Memphis or need help finding local resources, don’t hesitate to reach out.

Any ideas how to lower this or use it as a owner occupied property?  

I'll start more seriously considering doing this specific idea as a solo venture though, because that seems to be the general consensus of everyone that replied haha!

I need to have an idea for example of how much money I need to have the place ready to start building.

Even though I know you’re writing tongue-in-cheek, @Scott Trench, I think it’s a great idea.