The short of the reasons being-- I've never heard of someone wanting to move to Memphis (speaks to desirability), the market is too high of a renter's market for me (speaks to less owner-occcupants which can affect quality), if I were to have bought in Memphis it would've been 5 years ago when the deals were better before the hedge funds and individual investors ate everything up, and for current times, there are just higher returns and nicer deals (in my opinion) in other markets.

Cash is what matters.If you do manage the property (most states require you have a real estate license to manage properties you don't personally own) then you would be entitled to the property managers charges.  

You'll see in the forums there are several avenues where sec 121 and sec 1031 have potential confluence and synergy with each other - particularly in divorce cases where you speak.  

@Joseph Scorese Hey Jo, I sat in the first row and heard you speak at a WHIP meeting a few months ago, good job.

I really didn't hear anything that's good about having a realtor license...but if you want it just to let people know you are a realtor..then go for it...I mean every time I speak to someone new the very first  thing that comes out their mouth..is that I am a realtor...that sound so robotic lol...

But, it does sometimes, depends on who you are speaking to.I've said many times "I have an operation you might be interested in".

I will be happy to speak with you about the C class areas in Birmingham.

If you didn't use all your entitlement in the first house you can use the remainder on a second house.

If you're going the wholesaling path then I'd speak to @Marina Sudwho is a successful wholesaler. 

Speculation land is much harder to value, especially if you are looking to re-zone or get entitlements.