I'm not completely foreign to the construction process as I grew up around a family that was involved in home building, but due to living in another state I can't really lean on them for the direct, hands-on guidance. 

There is no seasoning requirement involved since the property isn't a short sale and it isn't someone buying REO from a bank with a seasoning requirement.

If this doesnt fit with your goals, it's time to bring on a partner.

Be very careful who you take advice from online, you should get involved with a local attorney and a local realtor.

Continually communicate clearly with all parties involved to make sure that expectations are as close to realistic timelines as possible.

My family actually have some properties in FL, and I have also researched this area quite a bit and I saw it might fit my strategies. 

HOA management for a bunch of peripherally involved out-of-town investors is probably a great opportunity pass along overpriced contracts to your local buddies. 

I'd be happy to connect and discuss how the Memphis market could be a great fit for you!

I'm planning on buying a small multifamily first and foremost so I have a place to live and then will either buy a single family or another multi family depending on what I can find/fits my criteria at the time.

Maybe they have other properties they are interested in selling without a Realtor involve.