This is what I teach:1 - Get a contractor you can work with that is fast, available, and reasonable2 - Make a Standard Rehab list of items you want to do as far as rehab is concerned....such asa - Floorsb - Paintc - New Kitchend - Bath fixturese - Interior doors with trim 3 - Learn your market and find the Property Profile that fits your Buyer Profilesa - # Bedsb - # bathsc - Square ftgd - zip codee - etc...4 - Apply prices above to Profiles above and you'll get a range of rehab cost that should be pretty standard, if you don't have any items to rehab not on your standard rehab listFocus on this system until you get comfortable "straying" off of it, and you should be pretty safe.Joe VilleneuveREcapSystemA2REIC

However, Memphis has a lot of bad areas scattered through out even in the best of zip codes and the tenant pool can be difficult to qualify depending on your standards.

Subdivision: LA CASCADA PH 1 Zip code : 32824List Price:$162,500Downpayment: 20% (on 30 year fixed mortgage) Beds:4Year Built:2006Baths:2/1Style:TownhouseGarage/Carport:2 Car GarageSq Ft:1,640HOA : $262 /monthProperty Tax: $181/monthInsurance : $90Management: 10%Repairs/Maintainance: 50Reserve Account: $100Expected Rent: $1250 - $1450

Enter you zip code in the network tab and connect with all the local investors.

What characteristics are usually associated with these various neighborhoods / zip codes that make them magnets for cash deals?

Two years later watching the newspaper sold properties by zip code - homes in that area were then selling for $108K, $110K & $112K.

As with any market, there are differences within neighborhoods, zip codes, streets, etc.

I would not call this area a warzone as I've seen women out walking their dogs by themselves both early in the morning and after dark in the immediate area.There are many houses listed < $25k in this zip code, most of them need extensive work.

What zip code?

I live in Jacksonville Beach and keep my eye on the 32233 and 32225 zip codes for those criteria.