Again, all I have to do is download my bill into a folder, and the rest is taken care of.I'm not a fan of paying utility bills because they eat into your cash flow, and the tenant may not be as "resourceful" with their usage if they aren't getting hit by it.

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

Renters:A-Class: Ideally 90% or more homeowners.B-Class: 50% homeowners and 50% renters.C-Class: Predominantly renters.Land Value:In A-Class areas, land should be worth rebuilding and upgrading.In B-Class areas, rebuild as-is if the property were destroyed.In C-Class areas, it might be better to sell the land if it’s not cost-effective to rebuild.Crime Rates:Use resources like Trulia.com to gauge crime levels.

Could anyone share their knowledge or resources on how to effectively approach this renovation?

Bigger Pockets is a great place for education and networking and is full of great content.I recommend that you check out the following resources:1.

Are there further resources for me to read up on this that you can point me to?

However, with the right property management team and a bit of research, Memphis could offer the cash flow and profitability you’re looking for.If you decide to explore this option, I’d be happy to share more insights or connect you with resources that could help you get started My partner did a lot of biz there about 7 8 years ago then left to join me.

I'm not in your market area, but if I was, I would be using you as my top data resource go-to guy. 

We try to warn our buyers about this and to use one of our trusted resources that is normally local, in the business for years, super knowledgeable and has a local reputation to defend and maintain. 

KeyCheck is integrated with FF and works well.FF provides a great overview eBook (see link below) that you might want to review before buying new software. https://www.furnishedfinder.com/Resources/best-practicesI hope this is helpful to you, all the best!