As far as appreciation is concerned Memphis is still a Buy and Hold Play the appreciation is not even close to what you will achieve in the Western States.

I would contact the Management rep. and discuss your concerns asap.

I could probably deal with the paperwork, but the tenant's care of the property was my biggest concern.

Buy-and-Hold investors fare better because they are less concerned about the immediate value of the home, but a downturn or recession (even a local one) often comes with job losses.

Frankly, as an owner, I'd be more concerned about following the legal requirements and solvency of the association than what any board member thought or how much they complained or cried.

Not a big difference but I do have some equity to free up that can be used towards a future down payment.My biggest issue is that I have great credit and would be more concerned about the potential negative effect of a credit inquiry, and might be better served simply using the good credit (as is with no further inquiries) in order to borrow a bit more (instead of a refi for extra down payment money).

It is often touted as having a lot of potential, yet what has always concerned me about the area is its proximity to transit.

This will give you a good guideline for what you should be concerned about.

I would be more concerned with their long term ability to pay than being able to come up with an additional month of rent or deposit.

She claims that she doesn't have to pay rent because the oven needs to be fixed.I thought that in CT, one could only withhold rent if there was a health and safety concern.