The next step is to take action—start analyzing deals, networking with local investors, and narrowing down your target market.

With a good chance of a recession coming, have cash available to take advantage of the best deals to hit the market in years. 

The Memphis market is THAT big?

Another option is to estimate value based on potential income and market cap rates, which can give you an investor’s perspective.

In my day job I do SEO for a digital marketing agency and I am more than happy to talk SEO with anyone who has questions.I'm interested in Long-term rentals, though admittedly, finding deals below market value and funding those deals (not to mention I honestly have no idea have to put the deals under contract in the first place), are problem the first things I'll need to learn.

It affects the marketability/value of the property. 

Memphis has been an amazing market for BRRRR due to its affordable property prices, strong rental demand, and solid cash flow potential.Would love to hop on a call and go over your questions—let me know when you’re available!

Loan sizing varies by market, but in most areas your loan will be sized to 75-80% LTV; 1.20-1.25x DCR; 30-year amortization.

Quote from @Lee Banks: Hi my name is Lee I'm looking too buy my first rental property and but I feel as if I need a mentor to watch, I still need to learn the basics of real-estate does anyone in New York do programs or mentorships and where would you start if you first started real-estate today  Hello Lee,I'd recommend looking up local meetups here on BP, meetup.com and, eventbrite.You can also call around to speak with RE investors and professionals in your target market to begin making connections.With so much available information online, I'd recommend speaking to a few people and doing independent research before committing to mentorships.

The key for me wasn't to invest in the 'best place' but to know a market so well that a deal jumps off the page when it appears.