The housing availability is super scarce here, according to them.

As noted above they're only in 18 feet which is not going to get you to the main unless your house sits right on the street or similar. 

None of these things made me a better investor, or I should say gave me an edge that I could not have gotten otherwise.Buying a house and renting it out is not rocket science, despite what some gurus will tray to make you think.

Memphis is a strong market with a growing demand for Section 8 housing.

If any portion of the building or structure is occupied by the taxpayer, the gross rental income from the property must includes the fair rental value of the unit occupied by the taxpayer.IRC 168(e) defines a dwelling unit as “a house or apartment used to provide living accommodations.

One of the 2 houses in our property was used by previous owners as STR when we bought it. 

However, when I recast the mortgage, I only want to put 200k back in and keep 100k for renovations.

Hi BP Community,
I'm in the process of evaluating a fix-and-flip opportunity for a single-family home (SFH) with the following details:
Purchase Price: $1,000,000Renovation Costs: Approximately $400,000Estimated Tim...

My first rental was a gut  job on a 750 sq foot house.

IF you are planning on living in the house (or part of it), you can buy with as little as 5% down, but you will have to get mortgage insurance which will cost you in the long run.