As with the rest of Memphis, street by street and block by block, there can be significant differences, and out of town investors can get burned.East Memphis is mostly slightly newer homes than midtown, and mostly more stable than midtown - not quite the same variation in home condition.

You can pull deed transfer info, and mail a letter to anyone who has placed a private mortgage on a recent transfer. 123 Main Street - John Smith sells to Jane Doe, mortgagee Jimmy John for $75K You mail Jimmy John a letter saying you can earn him great returns. 

Prices on these properties have been surging for years, deconversions in pretty much every once was "hipster"/now insanely popular area in Chicago, the hyper gentrification of every classic, ethnically vibrant, affordable neighborhood is old news.

Hence the popularity of commercial MF investing, as well as the BRRRR strategy (which is just what commercial investors have always been doing, but applied to SFRs.)2.

Making the driveway virtually unusable as a driveway eliminating any real off street parking for more than 1 car. 

The new neighbors moved in across the street.

I'm completing renovation on a duplex on the same street now and will cashflow over $650/door.I have a few questions on how to think through this deal:-Do you feel it is too risky to purchase a low cashflowing asset and maintain while slowly renovating the units upon lease expiration to turn the property around over the next 10-12 months?

What street did you purchase on, if I may ask?

There's no way for us to know how educated anyone off the street is.  

@Caleb Schmitz interestingly an contrary to the popular believe, investing in rental properties is actually quite boring.