Am I in the ballpark that if I purchase this for $110K today, that it would yield about a 20% IRR? 

How many kids get to play minecraft or COD on a big projector screen right? 

However, I learned that starting early allows you to build equity over time and take advantage of market appreciation.

I want to know if this type of business qualifies as a “real estate professional” status.

I'm in Memphis so I'd like my first couple to be local while I learn the ropes, but I'm down to buy anywhere.

I am new to the concept of real estate investing and eager to learn more and immerse myself in the community and culture.

Have a weird layout property where the front door is on the 2nd floor and there is a set of wooden stairs to get up there.

One more great reason to have a great accountant guiding you like these folks posting above!!

@Courtney HamiltonRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

We don’t have a clause in our contract to account for this, and we have been actively looking for new renters with no luck so far.