Three of my pending contracts right now are buyers from there. 

. $120k out of pocket money down to obtain the funds.Huuuh???

Obviously there are risks if I get laid off and would loose all the tax savings and be paying out of pocket for the property, but are there other things that I should consider?

Welcome to Bigger Pockets!

By year three, I aim to cover all operating costs and, by year four, to generate positive cash flow.Experienced investors say it’s crucial to persevere through the initial challenges while gradually building credibility through positive reviews, and I believe them.

Very grateful for bigger pockets!

We've always hired a tax protest company and have done so in three different states.

How to Invest in Real Estate and The Book on Real Estate Investing are a couple great books published by bigger pockets. congrats on taking the first step.

If the tenant is claiming to be living in a hotel, she may try to get you to reimburse for that cost unless section 8 has a new process to reimburse them for this... which sounds absurd but I'll let you deduce whether or not you're dealing with someone who is used to paying for things out of their own pocket. 

Welcome to Bigger Pockets @Joshua KeimAs a fellow Memphis native, I’d love the opportunity to connect in person and discuss strategies with you!