unless you have some kind of advantage, or creative strategy, or both (boots on the ground, sourcing quality off market deals, MTR or STR, house hacking, etc.) there is really no market where you can get a few hundred plus in cash flow with current off the shelf rates.you should 10000000000000000000% not buy a random property in Memphis because an Excel sheet tells you you will make $212 a month on it.if you want to go to Memphis and spend a few weeks there, drive around, meet PMs and other investors, and really lean in - go for it. 

But also, you'd get a better rate just buying your home with a home owner loan. 

As I am now focused more on cash and creative wholesales-SFR & Land, to eventually do fix and flips, buy n holds.

For the smell, buy an ozone machine off amazon (have the unit empty while it is running-same with upstairs if the airflow is connected).

I would not Buy property in Miami right now, especially with the Condo Crisis.

You made the choice to buy a $35k property... that's incredibly cheap in today's market.

A 1031 exchange is time sensitive but if you know what you would actually buy as your worse case scenario, you should be ok.

I buy rental houses in Indialantic and Melbourne Beach, in addition to my Texas portfolio.  

Where I made money was through renovations and ultimately appreciation, by buying in neighborhoods adjacent to where I lived, which I saw as gentrifying.  

Investment Info:Single-family residence buy & hold investment.