I own 4 two/three flats bought between 2013 and 2020 in Forest Park, Illinois, at low interest rates and prices in 200000's  They cash flow nicely and prices have increased a lot. 

Most of the stuff you can get at Home Depot or Lowes and get it the next day, so no delays once you decide on something. 

@Bonnie Low I was not including debt as I want to know how a cash buyer would look at the deal.

I've seen some as low as 6k and as much as 14k annually.

Usually of the home requires major repairs it may require a HML "hard money loan" then you refinance in 6 months on the new ARV.DSCR is also not a great avenue for low loan amounts because all loans under $125K will take a rate hit and the minimums are usually $125k after down payment with some going down to $100K Min.

Perhaps reach out to local agents who work with a lot of buyers in your market and see if any of them need a place to rent while they house shop (inventory is still low).

Memphis has a relatively low cost of living, and that’s reflected in the property prices.

Should I price the land 2 times above market value and offer a low interest rateORPrice the land at current market and use a very high rate?

I see that real estate agents and brokers are too negative on sub to deals……investors looking for low interest rates and or low down payments are too positive on the same.As I stated the reality is somewhere in between, depending on individual circumstances.  

Any advice is always appreciated.I have been BRRRR-ing in Milwaukee since 2008, if you look on my BP profile page you'll find a video.