Even deeper on the growing/vineyard side, farming annual row crops versus growing perennial grapes is a vastly different business model, has much greater appreciation potential, and far different income/acre than row crop farming.

One reason I don't buy properties at auction is because of perennial problems with foundation problems.

You actually *can* put the properties into an LLC after you close with your residential mortgage (there is a perennial debate here on BP about whether the bank will use the "Due on sale" clause if you do that, or if it will be happy to keep getting its payments). 

Memphis is a perennial market for Real Estate Investors, make sure you educate yourself first on the submarkets of town because it is a very street by street city!

Annuals die each year, but what if they are perennials, would those need to be depreciated over 15 years?

Won't help with perennials, but combined with Glyphosate it can get the job done.I have a gravel and bark bed yard that gets birds there to eat the peaches, and they leave poison ivy seeds!

I know I went to Perennial Brewery in that area a few years ago and I was fairly uncomfortable with the area. 

I saw or read that was a perennially strong single family home investment.

@Brian H.My favorite book on this is Landlording: A Handymanual for Scrupulous Landlords and Landladies Who Do It Themselves, (I think it's up to the 12th edition now).Landlording on Autopilot is a perennial favorite for good reason.Bigger Pockets has a good book on the specific subject: The Book On Managing Rental Properties.I would very much also second Nathan's NOLO recommendation: Every Landlord's Legal Guide.In the same vein, although this goes for every investor out there who is even thinking about putting money into any sort of rental properties that could possibly fit the regular C-class rental property descriptors bandied about here and there, a self-managing landlord just starting out needs immediate access to a highly experienced LOCAL real estate lawyer who knows the local real estate laws inside and out.

Any trees, shrubs, perennials will be ones I can come over once or twice a year to trim up.