Memphis is a market where BRRRR is possible, but with rates going up again, it's not a great idea.

I shouldn't have to "look out" for major issues, if a tenant moves out before the close date and the contract states that the unit will be delivered occupied, looking out for my best interest would be to find out when they are moving out and the state of the unit.I've had rentals for many years and this is the worst buying experience that I have had.Our contract was about a year ago and the reason why I am responding now is for two reasons 1) to warn other buyers and 2) because a potential buyer of yours actually reached out to me and suggested that I post my story on this platform.Keep on responding Katee.

I would go with adding the garage because I would want you to get the highest and best move on the ARV of the property for that area..

If you are accredited, the best thing to do would be to invest 50k into a syndication and soak up all the knowledge of how it works from an experienced operator before you make the decision whether it's your plan.

They will also often carry very expensive interest rates and have other fees tacked on.

Best of luck. 

We had been in a fast appreciation and low interest rate market for years.

I heard but don't know the veracity of this claim, However FLA suffers from a lot of fraudulent claims there by also causing rates to be higher.. 

Best to you and this journey.

Trump has said he plans to keep owner occupied rates at 6% through 2026.