This has been a topic on my podcast Investors' Guide to Memphis Real Estate where I talk about how I personally invest in Memphis. 

I'm newer to this area (from Colorado) and looking to talk to some professionals in this situation.

Let's talk about Capital Gains Tax.

Talk about baptism by fire - literally!

I wholeheartedly recommend that everyone talks to a securities and syndication attorney before doing one of these.

Each time the person I was talking too had to go ask someone else.  

I recommend working hard to find a way to turn that one into a rental.Sit down and work out the numbers with your wife, talk through what things will look like 5-10 years out as the house appreciates, rent increases and your job pays more.

I specifically asked him to talk to the underwriters to make sure the STR would lend. 

However the excuses she has (and I’m sure we could all write a book about them) are, how to say it kindly, laughable almost.I usually get a text saying she will pay by a certain date, which passes and left her a voicemail today asking to talk - I am trying to be understanding and said let’s talk on the phone to discuss a plan, but at the same time - don’t want to keep someone around that is not going to follow their lease terms.Questions:How often is it OK to ping a tenant for late rent?  

Talk to their new landlord about how they’re treating their current landlord?