Wouldn't the equity I have play a factor in this?

We are under contract on another right now, but it's an appreciation play.

I spent quite a bit of time in the Jackson area playing MRA, JA and Prep back in the day.

Properties north of Greenridge St. are a fair play. 

Quote from @Gerald Wallace: I'm playing Devil's advocate and running your numbers through the worst-case scenario.

And the one time we did get sued by a tenant the LLC never  came into play (slip and fall on ice that the tenant won a nice settlement on from our insurance company, insurance company handled it all). 

Right on cue, we see 0 to 1 at play from @Eric Carr.

The smart play would be to build a two story wood frame structure on top of piers or concrete block in most cases. 35 feet is a pretty typical height limit in most neighborhoods, so depending on elevation you SHOULD be able to build two stories on top of the elevated foundation.

But there are other factors at play.

Here are key factors to consider when searching for a reliable broker.A good private money broker plays a pivotal role in facilitating real estate investments, serving as a bridge between investors seeking capital and private lenders willing to finance those investments.