Deep down I know the real estate license will come in great.

Is this something I can deep dive and find in a book to really understand the steps?

My step daughters inherited a few duplex's there so I know the challenges you talk about. . but there is NOTHING in the PDX metro area including Longview Kelso that is like a TRUE mid west or EAST coast Deep south ghetto or even Ghettos in the Bay Area or LA... whole different kettle of fish... that is a fact.

If anything is more than $500.00, you better investigate it yourself before you dive in.  

Consider window replacement cost or if you are ambitious and only if have deep pockets or can get state assistance restoration.

@Ethan Dalton Wilkins I would be in such a hurry to dive into mfu ownership.

In a sense they have criminalized deep value add projects and heavy re-positions.

I was one of them once and I decided to jump in the deep end anyway and get my hands dirty investing out of state in the midwest.

This was part of my "deep dive" on the area and realize the prices you can get in the area reflect the amount of headache the town will be. 

@Dean Letfus and others - my other question would be this:  Why Memphis and not Birmingham, Montgomery, Columbia, Atlanta and other "Deep South" cities?