Memphis has been tough for us so beware, if you do not already have a team with boots on the ground, what seems like a good deal may turn out very challenging.  

Property management on the residential side is very tough to make any substantial money with.I know friends who have hundreds of properties they manage with employees and they eek out 60k a year after costs.Hopefully you can build a better mouse trap but I have seen many on this forum over the years try to same thing.The costs are simply the costs.

I'd scope the sewer line and confirm material of water supply.

Tough to find houses, even distressed, that can be purchased at a deep enough discount to fix and flip for a decent profit and then the value of the properties have been rising so fast that it's tough to imagine the rate being sustainable to justify an appreciation play.

@Shane ClarkTiming the market is tough anyway.  

In my short time using the site I have learned a lot, and gathered a lot of material for future endeavors!

laminate has been popular for two decades brcause it is clean and tough, just look for laminate that passes for wood it looks so goodGlass is natural, beautiful, eay to clean and reflective...and will be used in different sizes, colors, shapes and paired with other materials for some time to comeGranite or any stone is classic...but as tastes change the preference for colors of granite will change...and yes it will take a backseat to other fresher ideas in countertopsWood ceramic tile will probably last like travertine porcelain tile because they imitate nature...but as tastes change the underlying hues change...goldenish tones giving way to grayish, I think "looks" will date a decor more than individual choices.  

Without knowing your numbers this is tough give you any guidance on.

Thanks to reading material on BP, I'm renting out the condo from 2013 - 2016 to some ideal long-term tenants, and make about $100 in positive cashflow every month (my primary purpose was just to have them cover the condo mortgage + insurance + property taxes + HOA dues + maintenance costs until the condo appreciated enough with the recovering market to sell for a profit).

This owner is hoping to close on 17th as they are moving out of state after going through a very tough loss of life.