Welcome to BiggerPockets Mae and best of luck investing!

Using this process, our evication rate is 1 for every 750 leases signed, so it works. 

Everyone knows the 3% or 4% balance transfer fee, but compare the fee to the interest you will pay over the same period with a traditional loan.If you have $10k in debt at an 8% interest rate with a traditional loan versus $10k of credit card debt with a 4% fee and keep both for a year (making minimal payments), you will pay less interest with the credit card.

The rental market is strong too, especially in Midtown and East Memphis, with low vacancy rates and a 5% rise in rental prices.

The best advice I can give to a new investor at your age is to stay out of consumer debt and save as much as you can for your initial investment.

Just an opinion now that cap rates on NNN are still pretty low. 

Be careful of neighborhoods and look at the crime rates.    

Some details on the deal below:Mortgage rate on the property: 3%Monthly mortgage payment: $1200Amount owed on mortgage: $230KCurrent property value: $370KEquity: $140KDue to the low mortgage payment and high rent potential in this neighborhood I would like to assume this loan and rent this property out as a long term rental. 

I'm best in the South Island. 

Cash out refinance is the way to go since rates are lower than Helocs and its over a 30 year versus a shorter LOC.