We eventually want to start with a small multi-family and build from there.

Memphis' strong suit is in single family homes and not so much on small multi family properties.

I got into RE investing about 8 years ago and have invested mainly in SFH and Multi Units.

Without even looking into military-specific FHA loans, I wanted to do an FHA loan with a family member occupying, but found out that this only works with SFH, and to do multi-family you have to put 25% down. 

Since about March I had been looking in the Clarksville/Nashville TN area for any sort of multi family home. 

I am interested in multi family homes, but also thought about buying a foreclosure and doing the BRRR method to it to start?!?

I am looking to buy a single family or multi family for first investment.

We would be moving from multi-family property to much different areas and states. 

And does it apply only to New Construction condo/townhouses or also to existing 2/3/4 unit multi family homes to be converted?

If you sold all 7 properties for $900K, you could probably get yourself into a $3M+ multi-family property and pay no capital gains taxes.