@Emily Gowen so as you pointed out you would not have to do a 1031 exchange on your current home to avoid the capital gains tax and coupled with what Dave Foster pointed out I think, speaking from experience you would have a high likelihood of success. 

I started 2 deals with these guys within a couple weeks.They have been a nightmare to work with.

Can you send me a couple addresses of projects that someone completed that fit your model?

I can share what I have learned the last couple of years of doing this.

Hey, Jaycee, I've only been running it for a couple of months now since I closed but it's been doing about $6000/month in gross rents so far, this month will very likely be closer to $4500-ish since it's by far the worst month of the year for rentals in that area. 

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.

One solution I see some people do is to partner with another investor on a couple of deals where each brings something to the table...more capital, experience, etc.

Coupled with persistently high interest rates that may last for years, rising insurance premiums are inevitable, regardless of your property’s condition.

We are good friends but that's also not an issue for them because they are a dual veteran couple.

Rev Proc 2008-16 does create a safe harbor for your investment intent at 2 years of investment use coupled with  some other qualifiers.