The 38128 is slightly below the median and is in a decent area, but definitely an area on the more challenged end of the spectrum in Memphis. 

Buy solid properties in decent neighborhoods and screen your tenants well. 

adjust your price, be aggressive on it and it will rent.

So, if you are shopping around, trust your numbers and don’t be aggressive on price, you may be only bidding against yourself.

@John McKeeSuccesses: Bought 5 cheap SFR out of state in Arkansas that cash flow decent.

I'm not saying you can't make a decent return on rentals - I and many others here have done great with it - but if you have a well-functioning, profitable business that you know, why would you gamble money into Memphis *******es, to put it bluntly? 

If the place is in decent shape I would offer to credit it toward the next month's rent and write addendum including no future pets.

We made an aggressive offer quickly.

if your loan is 154k  then this prop probably appraised for loan purposes at 200k or so. and that price point is usually in a decent area or street..

The one cost will be getting the units furnished, but if you live in the area it isn't hard to source a bunch of decent 2nd hand furniture on Craigslist or FB market