These events below would be the first ones I would go to. https://www.biggerpockets.com/forums/521-events-and-happenings?

You can definitely find multiple places below that price that will allow short-term rentals.

And I am sure that my number of questions would look so naive and stupid including below.  

You need to get them for well below assessed value and you need to fix them up so the appraisal comes in at a value well beyond your purchase rehab and holding costs.

On the flip side, rents are  $90 below market, the garage building is unrented and I anticipate some laundry income, once service is set up. 

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Hence, a property's intrinsic value (appraised value) might be higher but its selling value will be lower as the buyer has all the power. 

You can see in just a few years how the VA property can easily be a bigger boost to your net worth than the Memphis properties.Now realize that even with a PM the scaling of the number of units implies more work and effort.  3 units is unlikely not to be more work than 1 unit (assuming similar asset class - Class not lower than C+; I only recommend expert in slums try the D+ and below rental units).I would not choose the historically low appreciation markets but if I did it would only be for MF+.  100 units at $200/month cash flow can be significant even if the cash flow only increases at the rate of inflation; this likely provides a very nice life but probably not financial freedom especially if you are living in San Diego.  500 units with that cash flow most people would have financial freedom. 

Just talk to some local lenders about what their refinancing policies are.As I see it, if you want to be able to pull all ypur money out when refinancing you either have to buy below appraisal value, do renovations that increase the appraisal value more than the reno cost, or both.You can buy properties in good condition that cash flow well, but you probably won't be able to pull all your money back out unless you are buying them well below market price.