Flipping houses can be profitable, but it's essential to understand the tax implications:1.

Economic means they are paying.In certain areas of Memphis, economic occupancy is rather low.

Would the goal after I get a duplex to use the income streams and my work income to pay it off as soon as possible?

It can produce a great income, but it's a job and doesn't build real wealth.

If the house value goes way up, the seller has taken a loss, as without the option, he could have sold for more.

I understand that this is easier said than done but is the bar really so low for PM's?

I'd also try calling the court house (or whoever issued the writ of possession) and ask them about options explaining that your calls to the marshall's office go no where.

I did list it last night on Zillow, Avail, and FB marketplace and have already received about 8 inquires, which makes me think the price maybe a bit low and that six weeks in advance is too soon.

If having rental properties was to be our main source of income, how would we go about receiving financing. 

A 5-unit investment property with an asking price of $352K and an annual net income of $33706 is listed on loopnet.