When you hire good contractors and tradesmen, you are paying for quality and speed (keyword: good!).  

Sell it because no one else can find the same house for the same quality at this price.

The short of the reasons being-- I've never heard of someone wanting to move to Memphis (speaks to desirability), the market is too high of a renter's market for me (speaks to less owner-occcupants which can affect quality), if I were to have bought in Memphis it would've been 5 years ago when the deals were better before the hedge funds and individual investors ate everything up, and for current times, there are just higher returns and nicer deals (in my opinion) in other markets.

Yes, they could always sell it to someone else, but they have to convince someone to buy it and there's no guarantees if it's poor quality, so again there is an extra incentive to put in extra level of due diligence care.B) Your money starts earning right away.

If you are getting response, just not the quality of applicants you'd like, think of other ways to market the property.  

I know it's like scraping the bottom of the barrel, but you do occasionally find the qualified, good quality tenant along the way (Mostly for seasonals).

My rental condo is located in a very competitive market just outside San Francisco. there is a great supply of quality tenants and I never have vacancy time of more than a few days when they need to move.

I like the fact that I provide good, safe, quality housing to working-class people, but if I couldn't make a very good profit from the endeavor I would do something else. 

Feel free to add anything or comment your opinions...To Survive Over The Long Run Managing Your Buy and Hold Investments:Understand that your business is to provide quality housingUnderstand that you're looking for quality tenantsUnderstand your goal is to satisfy your quality tenant so they keep buying from youTenants are looking for convenience and superior comfortGreat value within the areaThe Process of Buy and Hold InvestingPrepare investment property for rentalMake a decision on your exit strateg(y/ies)The better the neighborhood/area, the better your security to hold the property for cash flow versus to flip it (generally)The better the neighborhood/area, the faster the appreciation (generally)The better the neighborhood/area, the smaller your profit in cash flow (generally)Staging is an option to consider as well when preparing to get the property ready to marketDoes "The Thinking" for the tenant and helps them to picture themselves living in your homeMarket rental propertyCraigslist is a good marketing vehicle to use when marketing your property to tenants...

This is similar to, but not the same as, the yield of beans in China, since China is the most populated nation on earth and the yield is much higher, (which is due to the poor air quality in China and why bean consumption is regulated) with the yield or output being much more concentrated over time.And, why hard money lenders usually don't chase tax liens in Texas, nor do they develop lists for investors to purchase with their funds as they rely more on the security interests in a property rather than a UCC filing.