Over the past 6 months I have been really researching and devoting myself to self improvement and learning.

This could improve your margins.Occupancy Rate: A 60% occupancy rate seems low for Jax Beach, but that is a reasonable conservative baseline. 

I could add this4) Maximize agency financing to improve overall returns safely

First you need to learn to separate the following:Maintenance: usually things related to wear & tear or tenant damage.Repairs: usually broken items like doors & windows, caused by tenant or nature.Capital Improvements: usually expensive things that wear out: hot water tanks, furnaces, roofs, etc.The seller is correct that Repairs & Capital Improvement items should not be a factor for awhile (ALWAYS get your own inspection to confirm).

It's all about the location, you might be able to buy a cheap house, but if it's in an area with nothing but other cheap houses and in an area that is "not desirable" you're not going to make much money on it, either in improvements or rent.

It usually starts with a thorough walkthrough of the property to list all repairs and improvements.  

Don't get me wrong, there are plenty of terrible landlords out there, but deciding that you are victim of life's circumstances certainly won't improve your situation. 

You could do the upgrades then rent out the units or sell after you made the improvements.

Before listing it on an STR platform, I need to make some improvements to my current home.How can I maximize tax write-offs for these improvements?

These are not great investments and while the experience is not typical for Memphis, nothing I've read or seen should lead you to believe your experience will improve.