If the best case scenario for cash will not cover expenses it seems like you have 3 choices here. 1.

@Dock Newell Jr Great choice picking Memphis to invest in!

However, before consulting with these professionals, we are taking the initiative to educate ourselves so that we can ask higher quality questions and ensure we are making the best choices for our future.

Note if I had purchased in 2022 in my market, I would have done alright due to the appreciation but in my 2022 underwriting I was depicting 0% near term appreciation (I strive for conservative underwriting).You have a choice to either pursue RE or not.  

If I could not mitigate the issue sufficiently outside the house, then I would probably add a sump pit and perhaps some kind of perimeter drain in the basement in the most problem area.

This is interesting, is there a requirement for how many builds to have in inventory to be considered a developer or is one sufficient for this tax incentive ? 

Because your choices are to sell the property or to fix the property, and fixing the property is going to cost a lot in time and energy.

FHA and 3-4 unit properties don't mix in Oregon, as most don't meet the FHA's self-sufficiency test (75% of rents cover your entire payment).

Honestly if you just treat it like would I be ok living here if I had absolutely no other choice, you will be fine.I love my section 8 tenants.

There are plethora of landlord platforms that force you to use their own 3rd party banks to deposit rent and charge $2.5-$5 per transaction to directly ACH into bank of your choice (ex: I love Chase Bank).