The CAP rates aren't great, the vacancy rates are high, majority of multi-family locations are in areas with unreliable tenants.Overall, it just seems like it's difficult to achieve reliable passive income here. 

I wanted to post about occupancy, I know there is a wide variety of occupancy levels and ADR information out there but wanted to share mine and hear what others are doing.Seems there are several schools of thought - drop your rates and high occupancy or high rates low occupancy.We have 29.9% occupancy and an ADR of $633 per night.

Doesn’t make any sense, auctions are high risk already.  

Between high prices (the same thing that are benefiting you on the sale side), high interest rates on new loans, likely slowing rent growth, it makes for a hard time to buy anything.  

Before diving into LLCs, HOAs, Insurance, and Home Prices.I'm not sure if you have been pre-approved but I would highly recommend that you speak with a local lender, I happen to know a few in the area.

We keep all business and personal separate for a number of reasons, and I highly recommend it for everyone dealing with the general public on a day-to-day basis.

The program had a very small sample size as there weren't many participants + as you mentioned, renovation/conversion costs were extremely high for landlords.For your question, an architect would be a great contact.

In what world does reducing labor in a high area of need, it’s only the biggest industry in America, reduce the cost of the service.

However I did some research myself on crime rates, and from 3 different sites, they all suggest that crime is rather high in that area:https://www.neighborhoodscout.com/tn/memphis/crimehttps://crimegrade.org/safest-places-in-memphis-tn/https://www.memphisdailynews.com/CrimeReport.aspxChecking city-data.com, the average salary for that median household income is around 39k.Also, the property value is listed at 145k, which seems like it is on the lower end.

@Amy Hu I am in the same boat as you, no passive losses because my income is too high.