Over the past 10-11 months, I’ve been able to maintain a steady "profit" margin averaging between 17-36%.

This is an old thread that was revived with the recent reply, and re-reading it now, I want to correct a couple things. 

Real estate is not the stock market and it's called buy & hold and not buy & sell for a reason.I did sell a few properties about 10 years ago when I learned the hard way that going into cheaper neighborhoods was not the right strategy for me, so that was basically a strategy correction and it was necessary, but also costly both in terms of dollars and time.

To thrive in real estate investing, you must maintain a firm grip on your finances.

Am I even correct in my basic analysis of the market?

These kinds of foundations need to be maintained over the years.

If can't transfer the rental into LLC and there are compliance costs associated with maintaining it you might consider shutting it down.

IF you decide to move forward in Memphis, recommend buying the first one turnkey to get you going.You'll learn a lot about rentals and the market with the first one.THEN, if you like results you can look for agents & PMCs to help you buy more and save the 20-30% markup you mentioned.Recommend you also read below info to set your expectations correctly:_________________________________________________________________________We think the Midwest is a GREAT place for OOS investors to consider!

It really depends on what you are looking and I think your thought process is correct.

@Alecia Loveless is correct--tenants need access 24/7 to their electric service panel, water and heat, assuming those are individual utilities for each unit.