If you and I were working on this one to get it refinanced, my recommendation would be to complete the reno before letting an appraiser in the door.

@Ricardo Serrano this copy & paste info may help...Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

BiggerPockets also has a calculator you can use to analyze deals and I highly recommend you start this as soon as possible, even if you are not ready to buy.

I'd recommend passing on auctions. take your time, focus on land and land development and real estate development.

I suspect you don't have any goals, which is why it's difficult to give you advice.I recommend you keep it as a rental.

Any investors in Memphis have recommendations on small local banks for business checking accounts?

However, if it’s only one or two months, I’d highly recommend offering cash for keys just to get the tenant out. 

I'd recommend talking to an attorney.  

I'd recommend you talk with your "tax guy". 

I do not make anything for the recommendation (no affiliate link to share) but I have numerous courses and his is the most comprehensive.