Memphis is a slow steady cash flow market.  

If your credit score is still mending and your home’s value has been slow to rise, sticking with an FHA refinance may work best for you. if your home has gained value in the past few years of the housing rebound, you may be able to forgo future mortgage insurance payments.

I would caution you to be careful with 300k, take it slow.  

A slow and difficult prospect.

not to worry about an opening bid, its not what you open with it is about the final bid that countsdon't jump in and be the first bidder, wait to see what others are bidding, when the bidding slows down to almost a stop, that is when you may want to consider a bid (if it is the price you set for yourself)at the auction, try to stand parallel to the auctioneer, this way you can see who is bidding and who is not ----- meaning at times the auctioneer will create false bids in order to get the price up.

The market should pick up around April, but at least in my area it hasn't slowed significantly for winter. 

Spokane is ur closest market that is reasonable priced......Idaho is either a slow area or really expensive.......I buy rentals here for 60-90 still 3-4 bd rooms too.....if u need a little help here ....David 5092177925

Even in what is typically regarded as the "slow season", i.e. winter, we've noticed a lot of rental properties receiving multiple offers; Needless to say the MPLS / StP investment market is strong and doesn't show signs of deviation anytime soon! 

Slow & Steady wins the race.

2) they've had me already go down once to fix slow draining sinks.