@Ian Martin It's going to depend heavily on what the home can be licensed for, the finish of the home, and how many residents it can be licensed for.

If insurance won't handle it, then I recommend you document it heavily with pictures, dates, etc.

Given your situation, you should consider and explore house hacking options heavily.

Hey Mani,I don’t have firsthand experience with the Memphis market, but I do invest heavily in Detroit and have done well with Section 8 properties there.

Blue Ridge has been heavily invested in marketing for over 15 years and has name recognition that the others don't enjoy. 

Boston has invested heavily in its Seaport district, adding parks and public spaces that boost property values and attract commercial projects.

It could just be me but, I know apartment buildings are heavily slept upon.

Markets and the economics behind real estate have changed so much over these past couple of years.The 1% rule was heavily touted a couple years ago.I think the general rule now is that you likely have to put down around 30% to 40% to cash-flow on a long-term rental.Best of luck.

I've looked heavily at Bakersfield myself, and have some friends there.

Also, financing for 1-4 unit properties is heavily competitive vs looking for financing for 5+ unit properties.