I plan on getting my license after graduating and either staying in Memphis or possibly moving to Nashville.

I personally would not want to drive around this neighborhood knocking on doors for rent.

Hi everyone,I'm new to real estate investing, focusing on commercial and mixed-use properties.

I try to stay on good terms with people as word of mouth can always come back to bite/help you, and generally try to treat people with what feels right/fair.I was thinking I charge a one-month penalty for breaking the lease, and they continue to pay rent until the unit is filled.

We have started down the road of fixing the place up, because we have a strong personal relationship with the seller, but it's time to get this in writing and set this deal up legitimately.I'm going to jump on YouTube and watch some Pace vids, but any other suggestions, resources, etc. would be greatly appreciated. 

Based on your post, it seems you may be focused on expensive "appreciation" submarkets vs inexpensive "cashflow" submarkets.  

We keep everyone in the loop all throughout the process.To stay on track, we maintain a comprehensive checklist that covers all the tasks involved in closing a deal.

We are on a generator and doing fine.

@Mike FarrIf you are going to spend 100's of thousands of dollars on an investment property it's definitely worth spending a few hundred dollars to make sure the title isn't clouded and you get clear and marketable title at closing.

Im about to close in on my first investment property, a large Single family home .