I am finding plenty of information online about the program but nothing explaining how it is directly impacting buyers looking to buy and hold property in the city.

Before I start going around asking for money, what would you recommend I have prepared to show potential investors that will prove to them we are a serious investment?

I recommend starting with turnkey rentals as a great entry point. 

There are books available on this site about property management and also a good book you might want to read is Property management for dummies.In Florida a big alligator on Real estate can be the insurance costs, and roof replacements.So talking to an insurance person about these things, which may have different costs in different cities, would be an intelligent thing to do.You will need a lender to make the loan.

I came to know in general Memphis city above 40% to 60% vacancy on average in apartment properties I hope it’s not true Any reason for such high vacancies?

You can do this research on the OTA sites, AirDNA, Pricelabs, and other similar sites. 

To work with investors as an agent I recommend connecting with GC's and PM's so you can refer those to clients.

Cutting down timelines to not extend carrying costs Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

if you already sent him some money and he now wants more then I can tell you that you have run into a fake lender scammer.. on line profiles mean diddly squat.U can play the private lender game all you want.. just never ever send them any advance fee's unless you pay for a 3rd party appraisal directly to the appraiser..

Also in the meantime they recommend stopping mail to the mailbox, holding at post office, and manually picking it up (all of which I had to do once when I lost the mail key).