Hello @Fulati,With that budget, I would look for houses in East Memphis, Cordova, or Bartlett.

I am trying to assess whether I should take it solo , leave it or scout an experienced partner.

Affordable housing is about the housing itself and the economic environment it is created in.

Quote from @Scott MacComb: I am doing my first true house flip (have remodeled plenty of houses for rental) and am trying to figure out a contract to use with a new general contractor whom I have not worked with previously. 

Perhaps we "buy" the house from them for the $328K balance to satisfy the lender and don't need a large down payment and then have a separate contract with them to pay $x per month until we've paid the full $172K amount.

So, we now find most areas where the cost of PM leaves but the general real estate passive investment ROI for the investor hiring property management.  

SFR houses will only appraise based on comps.So unless someone was paying cash you can't get more than they appraise for.The camp ground is a different story.

Leaving out auction and foreclosure costs for a second, when you write that check for $220k the trustee is going to pay BigBadBank the $175k they are owed first, then he's going to pay LittleBadBank the remaining $45k, and you will get a clean title as the process is going to wipe the slate clean.

Just curious if you find it makes a difference updating your photos on a somewhat regular basis or tend to leave the STR photos the same once you have somewhat found a sweet spot?

You can open a Self-Directed IRA and use the IRA funds to buy a house using a Non-recourse loan.