There are always strengths and weaknesses for every platform, especially lower-cost solutions.

As you mentioned their financials are not looking great and the loan will be dependent on the strength on the operations. 

Considering your criteria, Memphis could be a great fit:Affordability: Lower cost of living makes it accessible.Diverse Economy: Stable market with strengths in healthcare, logistics, and education.Growing Population: Steady growth can drive demand for rental properties.Youthful Vibe: Vibrant culture and entertainment options for young people.Real Estate Opportunities: Research neighborhoods for house hacking and investing potential.Ensure thorough due diligence, connect with local professionals, and align your goals with Memphis's unique market dynamics.

We both bring different strengths and connections to this partnership. 

A large proportion of people have no idea what it takes to buy an apartment building (the mental strength and patience required is no joke, frankly) and this is coming from someone who currently has a multifamily deal under contract as of this writing. 

If you know your strengths, weaknesses, preferences and risk profiles, etc, you can observe the market, learn and find a niche - or several - that you can master. 

I know I want a partnership for my first deal so that we can both bring strengths to the table.

It depends on your financial strength, the quality of the property, how many properties you own, etc.I like to start with one major expense and three months of vacancy.

Reach out to others to see if there are some opportunities they may be able offer you to begin your learning experience as you offer them maybe your time or any strengths that you can bring to a budding win-win relationship; additionally it is just great to connect and have a circle of support with like minded individuals.Lastly, you can do this!

A 3/2 in Denver for 80k is a good deal right now - BUT _ the strength or weakness of a condo investment depends very much on the state of the HOA.