This is even more challenging with triplexes and quads as they are rare in Memphis and seem to be only in certain parts of town that are less desirable to live in.I have seen and helped several investors using the BRRRR strategy here with single family homes and have had great success!

It was newly built in 1987, the developer got a mortgage of $300K, based on appraisals of $350K.

I have a home in a college town where my son resides.

With companies such as LG coming to town it has been a crazy past year.

Changing it legally to a 3-unit may be doable, or may be next to impossible depending on your town/city.

This way you have built a track record with a lender, and have built some passive income to help with future financing. 

Hi All,I am flipping a bungalow into a purpose-built two apartment home.

Hi Brian,Are you looking to sell this when built out or hold long term?

Rome wasn't built in a day but someone had to start building or there would be no Rome.

Also, while your town might not be economical; there should be towns within 30-60 minutes that may be where the workers might come from so those might be towns worth looking into and these exist everywhere.