The pandemic fueled low interest rate boom demand has normalized, but the market is still moving.

Buying 25% below FMV is tough in a market that has 5 times more demand than supply.

The current owner has worked in the business since 1981, and owned it since 2007.Key features:- $25k minimum investment- 4 year timeline, projected annual IRR 35% and equity multiple 3.12- adjacent to public transport, in a suburb where there is both housing demand and limited supply.- operator has built and filled a similar development nearby- You can find pictures and numbers on some of the buildings they have built and are building here (https://lnkd.in/gfbdvtnf).- You can find a profit calculator spreadsheet here (https://lnkd.in/g-2m_vZA).

Also, do you think buyers in your area prefer a completely open floor plan, or is there still a demand for some separation between spaces?

Demand is there. 

The property prices are lower compared to other markets, and the rental demand in certain neighborhoods can be pretty strong.Of course, it's always good to dive into specifics about the areas you’re considering within Memphis.

Larger migration with demand outpacing supply3.

When the area eventually becomes saturated or supply exceeds demand, all you can do is race to the bottom to compete on price.

Consider states with strong rental demand, population growth, and stable or appreciating real estate markets.Financing: Look into various financing options.

San Francisco)I look for markets that cashflow AND ones that have a supply/demand imbalance.