I'd recommend mixing in more commercial to balance out multiple assets, buy a liquor license for a few hundred thousand, etc to make the deal work a little better. columbus hospitality isn't as strong unless you are in the urban core but even then I'd go for a lower risk asset class like multifamily and retail mixed use. hotel is very strong operator but management intensive.

Whew… ok…I digress…..The Skeptics Take:We know, even though we choose not to believe it, we are never going back to 2019 price levels.

Even nextdoor can helphttps://nextdoor.com/pages/steve-oneill-wimberley-tx/

Many HELOC or second mortgages are fixed interest rates and depending on the loan amount, even offer 100% online and no appraisal requirement for issuance.

I will need to finance most of the purchase, but if my numbers are correct, it would still generate cash flow even with 100% financing.

Even a good manager needs to be overseen, met with in person, and I like to put eyes on my rentals fairly regularly, since it is my money on the line. 

You'll see homes go for 300-400k, even new builds, on the side of Williford / Crestmere (on the side of the church), yet the very next street over on N Hollywood you'll get iron fences, 7 car packed driveways, and the occasional stray bullets.Investing in Memphis requires hyperlocal awareness.

.- I have about 150K available for a down payment, any suggestions on the type of property to target (cabin, condo) if the goal is to be around cash flow even?

Just because the tenant's boyfriend sold meth doesn't mean he made it at her place or even made it himself.

I'd also do a quick check on any utilities that she's paying that remain with the house to make sure they are paid up.If you have a full month's deposit, even if she doesn't pay for the second half of May and part of June, hopefully she leaves the place in good condition and you can use the deposit for unpaid rent after she moves out.