As soon as you buy a property it will begin to drop due to credit usage, but that's ok... that's what it supposed to do.Unfortunately in today's rate environment it is difficult at best to find good deals in about 95% of the country.  

Would that standard 35-40% opex ratio be inclusive of some percentages for property mgmt fees (8-10% usually) and some sort of capex reserve assumptions?

I think the location was fantastic as it was not in an urban environment and allowed for a peaceful getaway.

This isn't inclusive but should give you a good start.

Additionally, Memphis' pro-business environment, steady population growth, and ongoing revitalization projects enhance long-term investment prospects.

My experience is mostly in renovation, but my passion is making the built environment more seamless with nature and thereby more beautiful. 

This isn't inclusive but should give you a good start.

You could do an all inclusive deed which is a wrap.Things like title, mortgage, foreclosure and eviction all come into play and those are decided by which state the property is in and the goals of what is acceptable to both parties.

I grew up in sub to wrap my Dad was doing them in the 70s and 80s and CA has a Deed of trust specially for this called an AITD  All inclusive Deed of trust great document.

You would think Trane is the higher end, but, I remember they used to have aluminum radiator tubes and they rust and cause leaks in the ocean air environment of Tampa Bay.