Unless you are confident in estimating the renovations needed, I would highly recommend getting a contractor's professional opinion of the rehab costs.

I am skeptical about gurus, because real estate professionals who are truly successful are busy working their own deals. 

This is why i love BP where else can you go and find so much wisdom and insight among professionals in our industry that are willing to share their experiences.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Quote from @Jake Hughes: Whats up BP community.What professional photographers are people using to market their rehabbed properties?

Identify good brokerages and licensed R.E. professionals, and those who you send your marketing to.

What they do is basically teach how to Wholesale Commercial Properties professionally.  

I would not ask for a template from anyone, the better the contractor the more professional the contractor the better they are with documentation and getting things in order for templates.

Luckily, Memphis has a strong network of real estate professionals who are used to working with out-of-state investors, so you'd have plenty of support.In terms of risk, I think buying in Memphis is a good way to manage that.

These professionals often look for properties like yours to renovate and flip or hold as rentals.