Memphis keeps coming up as an incredible place to invest, but caution is required as neighborhoods can change street by street.I have found two or three friends in the Memphis area that can serve as a boots on the ground guide. 

Your money will be earning less than in a GIC and your valuable investment property becomes a liability. 

Contractors are a little more valuable but still not the most important part, it is impossible to find a contractor or a team that is going to be at your beck and call unless you are providing them full time work.

Bp's YouTube beginner's guide to real estate investing course discussed notes briefly.

@James Irwin, @Corby Goade really appreciate you taking time to give your valuable insight.

Having good rapport is valuable in business.

I want to cut down costs all around the board but in return I get a less valuable vehicle and practically lose the down payment.

Thank you all for your valuable insight.

And secondly, what would be valuable to a multi-family investor that someone with time (like me) but no experience can provide?

The market will change with the housing bubble and wholesalers will be less valuable as bank own properties "REO's" will be the low hanging fruit, per the investor buyer perspective (just like what happened in 2008).