John and Andreas it would be great to connect with you all, as I am in the Nashville market as well. 

@Dennis KnappJ Scotts book on estimating rehab costs is a great start. https://store.biggerpockets.com/products/the-book-on-estimat...Here is a "general" rule of thumb for my market in Jacksonville, FL.

I feel a loss of direction and that makes it really hard for me to focus and build.Do we keep at building a portfolio of small multi family (very abundant in my market, very rare to find anything above a triplex for sale), with plans of selling the portfolio and 1031'ing into larger properties? 

To look at it from the other side, as a private money lender in my local market I need someone to find me the deals.

If the stock market goes on a roller coaster ride you have no control.

Memphis is a market where BRRRR is possible, but with rates going up again, it's not a great idea.

The seller is so pissed off, he can't wait until Friday to snatch up my $10 gs and put the house back on the market.

Look at their marketing strategy.

Cash flow is crucial, especially if you depend on it for your monthly income.Selling the property for $170k, which is above its market value of $120k, might seem like a good deal initially.

I chose to invest in 1272 Lakins Rd, Etna, due to its potential in a growing market.