Hi Kiley, the first thing you need to do is ensure you are paying taxes on your rental income - you’ll need 2 years if you want a conventional loan.

I am not sure how to make the initial purchase...If I use a private loan? 

You can use a DCSR loan alternatively, or as I love to do; buy homes using seller financing.

Secure the home and all of the materials left in the home. 

If you're considering a DSCR loan, most lenders won't assess the property's value using a cap rate.

Fred Rewey and Tracy Z. have a great course on performing loans and who i would recommend for performing.

I am very interested in investing in real estate in Memphis and am currently seeking professionals who can assist me in this endeavor.I am looking for experienced real estate agents, contractors, and appraisers who can help me identify and secure properties with great investment potential.

In NYC and Houston, we haven't had much success with securing prepaid bookings from insurance companies. 

Conventional loan, excellent credit and reserves, nothing owed on the property and the property is seasoned.

The securities exemption for multi-lender (fractionalized) loans is only available to CA licensed real estate brokers.