Again, I am trying to practice and run some numbers on potential investments and would like help since I am just starting to learn the games of real estate and underwriting deals.

I am a real estate broker, and homes that I have sold to investors have large down payments or cash.

I would appreciate it very much if someone who is involved in real estate in Memphis, either as a realtor or as an investor, would private message me so I could have a text conversation and ask my questions.

I recommend finding an accountant who specializes in real estate taxation and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

@B RyansRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

I'm sure there's money to be made there in real estate, but it seems to be heavily reliant on one industry (Army) which is a red flag for me when it comes to evaluating markets. 

I work with real estate agent and buy it.

If the risk was too high visa vi the return, or if the investor was not in a position to accept the risks, then it could turn into a real nightmare.  

I am new to real estate investing and was looking into taking a heloc on my primary to purchase land and do a construction loan.

They seemed to just rehash the WSJ article but put a more negative slant on it, and probably drew some info from the Real Deal article too.