Sure wish some big investors who have the funds would come into Frayser and revamp it all up cute like some other areas of Memphis are being remodeled and help make it a safer & cleaner area for all the families and children.  

@Tyler LabradorMy parents (and pretty much society as a whole) always told me to go to school, study hard, keep “quality” company, get a good corporate job, save in a 401k, find the love of a good, honest woman (or man) and marry them, buy a house large enough to grow a family, and have lots of children (after all, they come with tax deductions).

They're moving to another city Dec 22nd (in 1 week).ARV = $140kPriced at $120kPer the owner, the house needs updating and cosmetic work (they have small children).What is the best option here?

They might also prefer to pass the properties onto children/family members - who knows.I do think the opportunity for seller financing will be great with these properties if they become available.

The children live in Germany and aren't interested in anything, they just want everything sold individually, or with the home.Most of the parts of the home, including an intricate 3 story spiral staircase, were shipped or flown in.

Jackson though provides one of the highest rent to purchase price ratios out side of small upper mid western towns.. and out right Ghetto areas of the larger industrial cities.I like it there people are friendly children have manners  etc etc.

My goals for real estate investing are to replace the income my wife and I make, while still maintaining income/property growth and providing for my children's college education (and more). 

She went on to tell me that the Aunt who passed away, did not have any children but did have 9 other heirs to the property compromised of nieces and nephews.I went on to ask her if she had any idea how much the property might be worth.  

Then once I joined my husband and children qualify to be members.

I have two deals, but I can only finance one.First deal: 4-Unit Building for Buy-and-Hold-28,00 down, 188,000 asking price (about 85-90% market value assessed through comps)-owner financed for two years with refi-balloon, owner pays insurance and taxes AND will take ALL of my payments toward principal (28,800 over two years), leaving me with 131200 left on principal after the two year period-property is in a small, clean, safe, and well-to-do 'podunk' town between three of four of this area's biggest cities, allowing less than a 20 minute commute to all of them-the property will likely need few, if any, repairs and cap-ex over the next few years as it was gutted and completely rehabbed 18 months ago-I would be paying ALL utilities and internet access, at least for the first two years prior to my refinance-proforma: After Purchase Rents 3000 Facilities income 100 Gross Operating Income 3100 Taxes 100 Insurance 90 Vacancy @8.33% 250 Maintenance @6% 180 Management @10% 300 Refuge 20 Water / Sewer 100 Cable 150 Gas and Electricity 400 Net Operating Income 1780 Debt Service 600 Cash Flow 1180 During 2yr LeasingRents3000Facilities income100Gross Operating Income3100Taxes0Insurance0Vacancy @8.33%250Maintenance @6%180Management @10%0 (I will manage)Refuge20Water / Sewer100Cable150Gas and Electricity400Net Operating Income2050Debt Service1200Cash Flow780Deal Two: 3/1 for partial rehab and flip OR buy-and-hold-in a family-neighborhood with good schools (where children in the public schools get free college eventually), in the wealthiest and fastest growing of those 3 cities mentioned above-needs a 50% rehab (ALL new appliances, new kitchen, new windows, full cosmetic throughout-has a basement and space for a master bath to make it a 3/2-comps in the area run 80K to 100k-monthly rental price could be 1100-1300-buying it from a wholeseller with whom I could establish a relationship for future benefit-Estimates: Purchase Price 19000 Repair Costs 24000 After Repair Value 90000 Purchase Price % of ARV 21% 6% Agent Commision 5400 Closing costs 1200 Carrying Cost 4mths: tax 580 CC: Utilities 1000 Net Profit 40200