Also, from what I read in Bloomberg, midterm rentals near major hospitals can sometime command a decent premium.. especially if they include some nice furnishings.Little Tweaks Count: Even minor upgrades, like new door locks or a fresh coat of paint, can help you justify a stronger rent.Driving for Dollars & Networking..

If you end up in Ohio and you end up in Cleveland you'll want to read The Ultimate Guide to Grading Cleveland Neighborhoods.

- FYI: it's only illegal to try to rent it out, the property owner can usually legally live in a nonconforming basement unit.If you do all this you may still negatively cashflow each month, so make sure your income can cover and/or your cash reserves.If you do this successfully, you will learn more in 1-2 years than you would reading here on BP for 5+ years:)Good luck:)

You definitely would want to read through the county laws again.If you don't want the extra load up front, best to wait until you get the license.

Any other ones I should read after that?

Loved reading the welcoming replies throughout this thread.

Have you read any of the books here in the BP shop yet - I'd definitely recommend the BRRRR book among others. 

Third, I was reading Small and Mighty (thanks Nathan Gesner) and found myself doing a "Wait a minute..." when he lays out that for B-ish SFHs he wants at least 6-7% rental income (after expenses), 3% appreciation, relative to the house price.

Quote from @Jacob Hrip: I have read this one years ago and it is a great book by a very successful guy in the space!

These are not great investments and while the experience is not typical for Memphis, nothing I've read or seen should lead you to believe your experience will improve.