REO sales are very slow.  

If you go in and see that the house only needs a deep cleaning and some carpet.... well your 147K figure is way off on repairs.

A hand dug well wont supply thousands of gallons , the recovery rate is too slow.  

Sadly, most of the sheeple will just take it and continue to allow the slow erosion of their rights.

Anyone have recommendations for cleaners they like to do a deep clean.

Bottom line, be very careful when entering into any partnership and take it slow.

It takes time to really dig deep in a certain area and look at multiple things the town has going for it. 

Buying at a deep discount in a hot market requires a high level of skill.  

I think that generally speaking LR is more "stable" market then Memphis in some ways, and thats why the returns maybe slightly lower off the cuff. but if you dig deep and do the leg work you should be able to find them....there are many investors in any market today so buying off market is key or agents pocket listings...Where in Memphis did you buy and what cash on cash return are you getting there?

(Obviously, I wouldn't want you to go that route, it is unnecessary and slows your progress.)