Consider using an FHA loan to secure a 1–4 unit property with just 3.5% down and take advantage of tax benefits by living there for at least two years.

That will show what proposed tax increase you will see.

I adjust pricing based on demand, like raising rates during peak season or local events, and lowering them in slower months to stay competitive.

I used Roofstock to sell one of my rental properties in TX as their sales commission is lower than going through traditional sales channels. 

Keep in mind taxes go up as do rents.

Plus, the property taxes are typically lower than in California, which can be a huge cost-saver in the long run.Another benefit is Memphis’s strong rental demand.

So your results will be a degree lower than local investors. 

@Brice Alef-Torrisi putting each property in its own LLC is usually overkill.Getting a bank account for each LLC is typically something you need to do to avoid "piercing of the LLC corporate veil" (actually depends on tax selection you made for LLC), but is also overkill.You haven't indicated how you are holding the deed for the latest property.If in your name or same LLC, you don't need a separate bank account.If in separate LLC, you can create a Master LLC, have each property LLC hire the Master LLC to manage their affairs, and just get a bank account for Master LLC.This is an opinion, not advice, so lookup CPA Frank Alcini in Troy for expert advice.

I recommend that you look at Notice of Defaults, Vacants, Tax Liens or Probate. 

Your PSF will be much lower than it would be adding one small unit per lot.One thing to note is more than 4 units or more than one ADU changes the financing that is available.