If you're still shopping markets, I'm happy to set up a call to discuss how Memphis could be a good fit for you depending on what strategy you're looking to implement.

Three Months ago, low to mid 6's were available.Rates are going to continually fluctuate but if you have a way to earn 10+% on your capital, the TIME you are not using it is going to cost you way more than the extra .5% per year will.You are walking over dollars to save pennies if you are waiting for the perfect rate, half of the people who held out on getting mid 6's were waiting for high 5's.

So, while it’s possible, it’s tough to find deals that fit these strict criteria.

That will help you garner a better picture on if holding this property longer is a fit for you. 

Talk to different agents in different brokerages and get a feel for what might be a good fit for you.

In real terms you would walk away from an investment long before a primary residence and therefore most banks will not allow it for anything less than 10%.

Find out if there are any judgments or liens on the property.WALK-THROUGH AND/OR GET PICTURES: If you are looking at a potential deal, you need to have pictures or walk-through the property.

Seller number two walks away with all their cash, and seller 1 who already agreed to SF has now become a PML without the challenge of negotiating each deal with them.

You could have someone walk each unit and turn off the water supply to each toilet for 5-10 minutes and see if any tanks runs dry.

It is dependent on you and what you think would fit best for you.