As to #2 - I'd expand that to getting familiar with buying on seller financing in all its shapes and  forms: lease/options, pure options, contracts for deed, taking over payments on existing loans, wraps, traditional "seller carry back" financing.

This is a pure multi-family play, so no HO exemption here.

Do enough searches for commercial real estate and I'm sure you'll find a few who specialize in it down there, it's a very different market from residential.I don't know of any first time buyers programs... you aren't investing with owner occupied as your competition, you're in a purely investment world in complexes.Good luck keeping your payments low. 

Because in my area and in my experience most lenders dont appreciate the value of these low valued but pure cash flowing properties.

The difference is some pockets are growing purely for profit while others grow because of lifestyle. 

Is it based upon pure speculation regarding market appreciation?

Memphis TN for purely investing purposes.

Not much good saying "but I'll move/rent it out as soon as I'm allowed", because you'll always get zero dollars as income from your next (proportional) primary, and so on].I'm not objecting to your research / maybe buying it, but please don't let your Realtor skew the numbers about your primary-to-be in purely pro forma investment terms.

This is a pure investment property. 

Purely for my own personal knowledge as a local about to start turning my properties over to PM - what company are you using currently.