My boss owner financed the current home im living in for the past year and half.

If you're willing to put your 10k into a deal and you have time to give, you could negotiate with someone who has some money and expertise to put a deal together.Otherwise, finding a way to utilize that 10k to a house hack, find some people to live with you and pay rent, gain some sweat equity, etc, and you'll be well on your way with your 2nd property!

I live in California, but am looking to purchase my first single family rental property in Memphis, TN.  

We'd live there for 1 to 2 years while saving on not paying rent and building equity.After that, my first milestone would be $10k in cash flow per month within 5 years. 

With that he can get a warrant for the guys, girlfriends' residence who lives in that town.

Where in Portsmouth did you live?

Do you have to live in SD to make that kind of money? 

I live in Lancaster, CA and own a single family home rental.

In Palm Beach dreams materialize swiftly and impressively.Active inventory is 5, 080 with 26.15% change year over year and 4.4 months supply of inventory with 33.3% change year over year.In this community every obstacle is seen as a chance for success and every challenge as a path, to victory.Condos; Where Urban Dreams SoarThe pulse of city living!

If not, you could take title as an individual and later transfer to an LLC (you might trigger some due on sale and/or transfer tax, so get legal representation on that).If LLC is not possible, I've used Revocable Living Trusts many times.