Correct, the idea would be to owner-occupy one of the units (I’m looking at 2-4 unit options).

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!

I also had a state corrections officer that was similar.

The second Property Management company I never could understand the payouts and the payments was never correct.

When used correctly a HELOC allows you to do multiple deals over and over again.

What do you do to ensure that the tenant is responsible for security deposit disputes since that is the largest reason for owner lawsuitsHow familiar are you with the newly changed laws that can affect you the owner if they are not used correctly?.

@Kenneth Bell you are 1000% correct.

Is 95% the correct number?  

Getting the federal return correct is the most important and with owning two properties, there could be some positive tax benefits.

I'm going to have take a little time to wrap my head around it but if I'm understanding things correctly this is a very interesting opportunity.