Work through your learning and problem solving TOGETHER, in a methodical manner:what's the problem to be solved (and each should not be compounded with extra conditions).list all possible solutions you can find (without discarding any due to bias, personal business ideas or obvious negative effects).then find and list all pro+con issues related to that solution you can.SAVE your work in a binder for quick access later and to visibly demonstrate just how far you both have come.There's no rocket science in REI, but limited exposure to business concepts, contracts, accounting, marketing can ALL be overcome and your partnership will grow as a result.

Generally you would do an allocation of your purchase price to the land and building portion based on the allocation done by the county property appraiser.As to your question about hiring a CPA, I am probably biased as I am a CPA, but I think ultimately you need to do what's best for you.

I am obviously bias because it is my market, but to get a double for 40k that brings in over a grand per month is not bad!

I have absolutely nothing to base this on as I've never owned a property like this, so it is just a built-in bias.

, both on the buyer and seller side, and while it is easier than using a lender, when we sell, we do go into the buyers financials to ensure we are going to get paid.As a buyer looking for a property, I would be soliciting the help of a realtor (yes I am bias haha), but if the seller has the property on the MLS then their agent is more than likely offering a buyers agent a commission to bring a buyer to the table.

You will have to overcome a natural bias against you due to your age.

Full disclosure, I invest in Chattanooga TN personally, so I have a small bias toward Chattanooga in this comparison.

Of course I am biased to Memphis, because I live and invest there, but BRRRR deals are still out here and I am actually helping another BP guy do a deal that he will have very little out of pocket expense on!

In order to pick market you can either go with what excites you or go with top performance metrics (see my bias here). 

I am somewhat biased, but would be happy to talk about the market there further with you!