Good Question because I am in the same situation - BUT the abandoned home is the same address of owners on recordMay try facebook or the prison system???

For example, maybe you can install fencing around each lot to help define lot lines and encourage tenants to grow lawns.

If they are it would be a matter of permitting with the city to connect to the City's utility system.

That looks like 2 separate SFRs on the same lot to me, but i had a little trouble opening a couple of the photos.You should make sure that its zoned and permitted appropriately.It wouldn't be considered multifamily in my area, I believe.Your lender would have final say on the financing choices I'd think. 

Specifically- the cost of installing septic systems and well's.

It’s how the system works.

Memphis is a great market with a lot to offer!

You still can't discriminate against them.However, you should have a solid screening system that will eliminate the vast majority of these bad tenants.

Needs windows, has plaster walls, needs a kitchen update, no ac system and has a boilerLet me know what you think!

Thank You,  I have a lot to think about lol.