@Rae Chris sounds like you are off to a good start.

In the upper right hand corner of your screen is a bell.

You can ask Caliber Mortgage.Ask for Anna Belle Simms. 

@Theo Hicks does Joe's podcast and he sounds real pretty ;P 

Unless the seller has to be immediately out of the mortgage I see sub-to as an excellent cost reduction strategy. just reading between the lines.. but if the bank says they will take 91k for it sounds like the mortgage is in default so a sub to might not be possible.

Our logical process:1) Use Neighborhood rankings to narrow down area of city you want to invest in2) Focus on getting to know that Neighborhood(s), so you know the good & bad streets, block-by-block.3) Be patient to acquire properties on good streets that meet your buying criteria.Our rankings are done with a "bell curve" approach.

Quote from @Robert Bell: Memphis has had a favorable rent to price ratio for a long time. 

Melanie:You say I sound like an operator, but you may have missed that I'm talking about my PASSIVE investments.  

Truthfully, it's hard to get more than $1800 unless you have all the bells and whistles. 

I'm in Kansas City so I can't say for sure but I would highly doubt they'd raise any alarm bells.