You're better off starting with something more grounded, like securing funds and getting a few transactions under your belt.

Even better is if you come to them with a personal financial statement, a debt schedule, and a business plan for the purchase (if you haven't identified a property, then what size, location, price you are looking for).

This might entail making improvements to curb appeal, kitchens, and bathrooms in order to draw in better renters and raise rents.Long-Term Appreciation: Take into account real estate in communities that may see long-term growth.

What are you offering that is different or better than anyone else?

Hey Eric, That sounds better than the portfolio loan I was quoted but does it give me the flexibility in the future to sell one of the properties? 

I guess it makes sense that Multi family units will bring in less quality tenants but if you buy it in a better area and it's in better condition I guess you can still bring good enough tenants?

You may benefit better by tagging Little Rock, Arkansas instead of Memphis TN.

-timing of investing, should I wait for better market conditions?

However if you're looking for cash-flow right out of the gate I'd say there are cities that would be better suited for that on your list but not impossible to come by out here -- really just depend on your goals. 

Better to lose money than let them get into that relationship with you.