So, I will set it up that way; he suggested this, because if there are disputes between me and the tenant, then they are more easily resolvable if the entity is in TN.Great news, if there is anything I can help with here in Memphis please reach out anytime. 

As with many others I'm sure, looking for guidance on affordable cities that still provide a solid return / cash flow.

I manage properties remotely and can handle all the leasing/management pretty easily with my team.

and the demand is amplified when it has a proven rental history, furnishings and a transferable or easily obtainable STR permit.

These include drafting offering documents, adhering to ongoing disclosure rules, and audits, which can easily run tens or hundreds of thousands of dollars.

I despise units that are older where sound travels easily or also units that have either more units above and below.

I've easily had $800-1000 bills for single units.

I have 3 accounts per property which helps me leverage APY on savings accounts, prevent funds from being comingled, and easily set up auto payments for things like mortgage payments and utilities. 

This way you learn and make a return on your money.

But at a $1.5M asking price, as long as you don't have to spend more than $300k in rehab (without raising rents), this is a slam dunk deal that should easily be financed  at 75% LTV by a "investment real estate-friendly" bank/credit union that is located fairly close to the properties.