Even with potential vacancies or slow periods, the demand for rentals should keep things stable enough to cover expenses.Ultimately, I think Memphis is a great place for your real estate investments.

My advice would be is to talk to multiple investors who have real world, actual success-based experience in flipping over a sustained period.

What type of MEP work are you putting into the design for getting the sewer, water, power, and internet (assuming you're not extending gas) to the inside of the building? 

In our experience, things move in ebbs and flows and the speed of rental depends on your asking rents relative to competition.For example, there was a period of several months at one of our properties when a 3 or 4 BR unit came on the market it rented almost instantly. 

Business should start to extend only because there is nothing left to eat in the market not because you are losing in the competition. 

Also, 18 months is too short a period of time to obtain a truly significant result.  

.• Reporting companies that qualify for disaster relief may have extended deadlines that fall beyond January 13, 2025.

I’ve extended a connection request! 

They used that period of unemployment to skip paying student loans and then try to get some kind of program/hardship deferral or something aka "gaming the system".

We'd have to cash-flow $1,300/mo over that period to make that much, which isn't happening.This is all to say that if you are in a market that has good long-term appreciation potential, then whatever rental model you choose is simply a way to make a little money while you hold the property for larger long-term gains.I'll let others chime in on your specific area.