It seems this owner put in way too much, another words over paid, for a rental. 

What does this look like? 

I have lived in Memphis all my life but do not know if this is the market I want to pursue.

I understand Google continues to push into this space and disrupt the online travel agencies, so the landscape might be changing. 

Maybe this comment will bump your question.

This will save a little until rental income gives us additional funds to use for the back.

I know they require less down, but with no income, is this a possibility, or am I out of luck without steady employment?

What made you interested in investing in this type of deal?

Anyone dealing with this new bill conflicting with existing lease?

-What are the experiences of the group in negotiating with the seller/agent to bring the price down because of this fact.....Do we hope to get all the way down to ACTUAL cash flow value?