If OP can lever-up while maintaining adequate reserves, he will be in better position than buying with heavy cash position.  

I'm almost positive I've seen Memphis real estate agents post on the forums.

An appraiser likely isn't going to spend time giving you much feedback in advance (unless you have a connection or they are super slow).   

The 1 mile income radius could be misleading in either way to the positive or negative if the property is on the right or wrong "side of the tracks" so to speak.The 80% occupancy, if it's solely due to the mismanagement of the current owner could be an opportunity. 

Good feedback.

Any feedback positive or negative would be appreciated!

I go to Japan almost every year -- the demographic future is not positive.

I also suggest you post your listing to "Short Term Rental Listing Advice" on Facebook and let them give you more feedback as well.  

People in the group are great, positive, and supporting. 

This negative equity position consumes the initial cash flow to re over the negative equity position.