Rents are generally low there as well, but definitely stable.

Even with buying down the rate, I would not expect to get better than low 6's in the best of scenarios.

Anyone that is looking at your assets is always going to need to factor in property management, so you can show that as a real expense (and really make it as high or low as you want).I work in a vertically integrated real estate and development company, and I cannot imagine how things would run if we did not have an internal property management company that essentially works for the other companies but also stands on its own.

And maybe diversify a little, invest half in a low cost S&P500 fund like VOO and the split the rest across 2 or 3 syndications.

If you’re just going to do one or two flips a year keep your costs low.  

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

Our builder is Bill Lowe, who we really like so far.

There are other loan products available that are still a low down payment. 

Ohio is a great place for cash flow since rental demand is high, property prices are low, and rents are solid.

I've never really done a deep dive in analyzing the area because it is a retirement community, median income is very low, and there arent a lot of jobs in the area.