A lot of my wholesaler buddies are telling me it's common place to have to spend $50K+ on marketing to sustain the wholesale business right now. 

I would side with your wife on this one, I typically tell people to stay out of AC, Trenton and Camden or any D area especially if you're new those properties are very labor intensive 

Want to understand why our industry is reviled by most people?

THIS IS WHY PEOPLE DON'T LIKE SECTION 8; SHE WAS PAYING $200 AND SECTION 8 PAID $900 BUT ONLY FOR A YEAR; THEN SECTION 8 PAID 100% UNTIL NOW (4 YEARS); THAT'S NOT GOOD!

Never, Never use your sellers property tax expenses to estimate your future property tax, this is a big mistake done my many people in the industry.If you haven’t sell your Main home where you are living yet you might consider to keep it, because your new home would be triple the amount your are paying right now.

Thought maybe people had experience with enforcing deed restrictions.The title company absolutely carries fault.

Making a post here to connect with local people in your market is a great way to start!

Most new development is well over this mark and, since there aren't likely to be many more complexes built that offer decent living conditions for lower-end rents, there is probably some room to raise Class B/C leases in the coming years as more people move into Louisville.And, if things do decline, the "luxury" crowd is going to be looking for cheaper digs. 

Any investors in Memphis have recommendations on small local banks for business checking accounts?

There aren't high-interest money market accounts for businesses and most, if not all, high-yield money markets are for personal accounts.