If a landlord gives the tenant an answer that could be construed as a denial of their request or acts in a way that causes a "chilling effect", then they indeed could pursue this in legal channels.

That will tell you that the performance is not dependent on a couple of people making short term gains, but a stable performance pattern that is likely to persist.Also, if schools are a high weight in your decision making, I would also suggest looking at things like crime rate, average income in the areas, ethnic concentration, and other factors that generally effect kids at school more than adults at home. 

Their London one has obviously done a lot better than the mentioned pro forma 4% appreciation, which will have the effect of skewing the relevance of much of the "Advice from a pro". 

Would the new lease be retro-active, or just a brand new lease effective the day we sign?

That will have an effect on the appraisal.  

So the net effect is a tax increase.I like the other metros because you can still buy decent properties at or near that $125K target and get a decent rental amount.Although, from and investment standpoint, ATX is overpriced right now, I'd still rather LIVE here than any of the other areas mentioned.

Networking with agents and wholesalers is the most effective type of "finding" right now for my business model.

They effectively cover the mortgage.

I want to be investing in a neighborhood near Memphis that would take on the same effect. 

Effectively your ROI is less than 4.5% because it'll cost you money to access your principal.Now with the IO scenario - can you surpass a 4.5% return if you redirected those principal payments into a new purchase?