Before diving into LLCs, HOAs, Insurance, and Home Prices.I'm not sure if you have been pre-approved but I would highly recommend that you speak with a local lender, I happen to know a few in the area.

They all function the same in as much as their lining is a mirror finish.

We keep all business and personal separate for a number of reasons, and I highly recommend it for everyone dealing with the general public on a day-to-day basis.

I have an apartment in a multiunit that was never finished. 

In what world does reducing labor in a high area of need, it’s only the biggest industry in America, reduce the cost of the service.

However I did some research myself on crime rates, and from 3 different sites, they all suggest that crime is rather high in that area:https://www.neighborhoodscout.com/tn/memphis/crimehttps://crimegrade.org/safest-places-in-memphis-tn/https://www.memphisdailynews.com/CrimeReport.aspxChecking city-data.com, the average salary for that median household income is around 39k.Also, the property value is listed at 145k, which seems like it is on the lower end.

@Amy Hu I am in the same boat as you, no passive losses because my income is too high. 

Quote from @Daniel Rabinov: Hello,So I am ready to get going on flipping or BRRRR.The thing is, my local market (Los Angeles) is not a great place to start as entry points are really high for beginners and it's very hard to get good deals here.

Meeting seasoned investors, brokers, lenders, and property managers face-to-face at these events is highly recommended.

The basement itself is an unfinished basement, as well as unlivable (5ft high floor to ceiling).