There are some other dynamics that also will likely play a factor in making the situation great for investors...such as runup in home prices and interest rates probably created a permanent renter class of society. 

Man was not created to lounge all day.

*This post does not create a CPA-client relationship.

This creates a negative initial position.

What I wrote above does not create an attorney/client relationship between us.

To make smart, scalable investments, research your investment type, create a solid plan, and find a mentor or partner in the real estate community.

Rental income would be $12-14k per year, so your netting $1500-3500 the first year before lowering the interest cost over time and increased rent (rising at 8% per year).So for $0 out of pocket you get another unit, equity growth(over time), income that grows and you created a unit of housing that didn't exist before.

Patrick, not sure if you meant this or not, and don't mean to be redundant, but you could create a video tour and just sent the prospective tenant the link.

We also created a free Memphis zip code guide that will help you identify which areas you should be looking at!

If you're using a HELOC it's best to do something that's going to create value.That's not turnkey.The reason behind this is if you use a HELOC for a 20% down payment on a property you're 100% financed.