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One middling program I got into, I later learned the founder was trying to get out of managing real estate because "it was hard" so he decided to teach real estate investing instead. 

“Go check it out” she said.

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

Out-of-state investing in cash-flow markets or partnering with experienced investors for passive returns are also great ways to put your capital to work.

We have two properties in SLC area and manage from out of state.

I would clear that out if you sell, keep a little to "stage" it.

Just stay out of the higher crime areas of Memphis.  

Reach out to GC's, realtors, PM's, and lenders who know the area.

Two ways out in case of a fire is a must.