You basically are looking for a mismanaged commercial building in offering some kind of relief for the owner operator, usually mom-and-pop, without a property manager.

As an investor, you have the additional expense of flood insurance on top of regular operating expenses.I wouldn't buy a screaming deal in a flood plain or flood prone area - it's not worth the headaches, worry, and exit strategy is much more difficult.

My company teaches Lonnie Dealers how to run a successful and legal operation.

You could be just one of many victims of this operator.

He trained me 10 years ago and got me off to a great start in what is now a robust wholesaling operation.

Hi, I am looking at properties in  Memphis, TN and/or Middletown OH (based on recommendations of reputable Turnkey operators: MidSouthHomeBuyers and Missy McCall.My first question: are both operators as reputable as I have heard?

This is different in commercial because a tenant has a leasehold interest the can use as expenses in their business operations that offset the owner's requirements, residents can't deduct rental expenses!

Initially, I will be operating in the Augusta, GA metro area (2nd Largest City in Georgia).  

I am in investor/operator out of the Andover area.

Again, the ability to define and mitigate your market selections or operator choices base don past experiences, is huge, try to define the most painful parts of your experience and seek information to understand how your new defined Turnkey partnership will mitigate these elements and help you to enhance your ROI.Still much to consider....... much luck in your search.