Follow up to this one: I think it would be great for someone who wanted to live there long term, but it doesn't meet the criteria for what I am looking for at this time.

I think you'd be better served to turn the STR unit into a long term rental.

Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $247,900Cash invested: $19,000
Closed on my 3rd house hack in January 2024 and wow this one has been quite the property.  
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Plan for the Long TermTax Planning: Understand tax implications and consider strategies such as 1031 exchanges for deferring capital gains taxes.Estate Planning: Develop a plan for passing on your real estate investments to heirs.Additional Tips:Stay Disciplined: Stick to your investment plan and avoid making emotional decisions.Continuous Learning: Real estate markets evolve, so stay updated with industry trends and regulations.Risk Management: Be aware of risks such as vacancies, unexpected expenses, and interest rate fluctuations.By following these steps and remaining committed to your goals, you can progressively build wealth and achieve financial freedom through real estate investing.

Looking to start in Memphis buying long-term rentals or flipping.

We will most likely be doing a long term rental.

In fact there is absolutely nothing wrong with the above described technique as long as it's fully disclosed and UNDERSTOOD by all parties.John is "disgraced" because he got involved as front man with a Salt Lake City real estate marketing firm that promoted John all over late Nate TV back around 1998 - 2003.  

Doors (or clients) that require extensive and constant attention from my staff are not long for this world and will be cut loose.As @Richard F. mentioned, clients fall into those two categories (micromanaging, time-sucking parasites who place zero value on the value of your time, or the "don't bother me unless the house burned down" clients).   

Once you have stabilized the property and satisfied long-term loan seasoning requirements of the bank, you'll refi to the less expensive long term lender. 

The showing is scheduled and as long as no big concern arises, I am going to make an offer.