Hi Stuart,I have a small portfolio of several multifamilies and have done a few flips before that.

It is small multifamily with 30 year fixed rate debt. 

I own a couple vacant lots and looking to purchase more in a small area. 2/1s in Memphis, as far as I know, are as desirable as in a bigger market.

Insurance was really created for catastrophic events (fire, flood, etc) not for small claims.

We are a small partnership with 4-5 properties currently, but we are growing and hoping to find a reliable lending partner that we can do repeat business with.About 3 months ago, we successfully completed a BRRRR deal where we had excellent numbers, over a 1.25 ratio at 75% LTV, our guarantor partner has an 800+ credit score, and we had no issues qualifying for the loan.

I have property in three out of four of those counties including one SFH in Madison, one SFH in Limestone on 20 acres that's being developed to a MHP slowly, and one existing small MHP in Morgan County. 

In the long run, I want to have properties that are producing strong cash flow (eventually would love to own small apartment buildings and syndicate larger deals), but it seems that focusing on cash flow and reinvesting those cash flows will be a slower process than focusing on properties prime for appreciation or with opportunities for forced appreciation.

My suggestion if your goal is to free up some equity to use for another purchase - start small with the single family home with a cash out refinance.

Consider starting small with house hacking a duplex or triplex, and use tools like the BiggerPockets Rental Property Calculator to analyze deals.Good luck!

Start small and Make Your Big Mistaes Early.