However, I like that there isn't a lot of work to do and I could still make the property really cute with not much risk.Inventory is so low.

I would assume the % of man made fires caused by Arson is pretty darn low though.

cash flow has just been hit hard everywhere with the rise in interest rates. the properties in my portfolio that cash flow the most are at interest rates that it's not possible to get anymore - low 4s - and somehow there is still tremendous demand for properties that won't cash flow or break even, which is what you're finding.based on what you've said about your current situation... i don't have a good answer for you. 

At the time, his offer was low, and I had potential plans for that space, so I turned him down.

His credit score is fine but his income is showing too low to get the loan, so I though maybe I could use my HELOC to make the purchase and do a Lease to Own.

"Good" areas will be priced high, "Bad" areas will be priced low. 

If before getting a permit you have to dance around for Code Dept officials/ city gov and crime is thru the roof, investments will definitely be low whether real estate or other, but it should be benefiting the city officials to keep things that way.

Memphis has a relatively low cost of living, and that’s reflected in the property prices.

Also, what are some other low cost amenities that I can add to my STR that will yield a higher ROI?

Hi Daniel, condos can be a great low-maintenance option for LTRs, especially for absentee landlords since the HOA handles exterior upkeep.