Something with a separate living quarters and in a decent area of town. 

There are a couple of "elite" property management companies in Memphis.Multifamily: I scan the market quarterly to keep an "eye" on things. there was a 22 unit in a desirable location for +2m and a 64 unit for +6m.

Hey mate,Future predictions are solid for real estate IMO over the coming years.Lot's of pent up demand waiting for the Fed.Many folks with locked in low interest rates aren't selling, and many wannabe buyers can't get the desired loan amounts due to high interest rates.So we are in a stale mate for now.If Fed loosens grip 3rd or 4th quarter, I feel the flood gates might open and activity starts again.I don't believe the market will decline if interest rates are cut, quite on the contrary.Micro market trends are very different to macro.Online stats/demographics don't reveal what happens from a micro market standpoint.I could give countless examples of zip codes in Ohio experiencing population growth, gentrification and appreciation.The overall population might be declining but again, on a micro level some pockets are booming.Thanks and much success

You may also owe self-employment tax.If you're earing income all year long, and not having anything withheld like from a paycheck, you need to make quarterly payments.

With a bit of decor and management savvy you can easily be in the top quarter or even 10% without needing to build a waterpark in your backyard and bring in influencers for your photos. 

I noticed that for last quarter of 2023 I didn't receive rent from the housing authority.

I would also replace the old sewer lateral out to the street, which is made from clay tile.

Texas  Mississippi are notorious for expansive clay soils.. its more than just Mortar if the foundation is off.. if its a slab they have to cut holes in it and put in piers and jack it back up to level.

But you are talking essentially making three living quarters. 

I won't say what my W2 income is but I will say I expect to save over a quarter of that of that amount between fed and state taxes.