One of the things I love most about this community is that people are not afraid to challenge the status quo (ie. the smart thing to do is contribute to your 401k).

If each property costs $200,000 and your only acquisition cost is a 25% down payment, you will need $850,000 (17 × $200,000 × 25%) in savings, an almost impossible amount for most people.

I think people can definitely get rich quick.

Do you know people doing this?

Other consideration is that most people have leases that start at the beginning of the month.

Don't let them choose for you.Just inspect what you expect....Also I would talk to housing office in Memphis to get a feel of how many people are on the Section 8 waitlist, what kind of rents they pay, what zip codes are they targeting, see if they have any stats about how long tenants stay and average rent.While a lot of people try to look at google street view to get an idea of the neighborhood, there is no substitute for visiting in person.

I hear what Zeona is saying, but it may be irrelevant if say you are in the North San Fernando Valley where people from the Palisades aren't going.

For example, in my state PA there is an inheritance tax and many TAX auction properties originate from people passing away and the heir(s) not taking control over the estate and paying those property taxes.

if you buy a random property on Zillow and turn it over to people you have never met, you will very likely lose money, get frustrated, and set yourself back.if you're serious i'd pick a market and plan on making several trips there. 

Take people's advice and also dont take people's advice, make a decision that best fits your situation.