Areas you want to stay away from our Sulphur Springs which is where you find the best deals but probably not the best place to for yourself What I would ask is what are you trying to achieve with the house hack?

Memphis is a high rental demand area as most of the residents rent.There is a great chance to achieve the 1% rule here or close because if your property is worth $80,000 you can get it rented for $795- $8502.

It is all based on your goals, what do you want to achieve?

As well as any advice that could be given in helping me achieve this goal.

However a 1031 would let you take that equity and put it to down payments of other investments.I would just spend some time thinking and tossing ideas around to see what is the best for you long term and achieving those goals. 

- Provided that the rent is below the market, what improvements would you need to make to achieve that market rent?

Hi @Bob Ross, this is achieved because some portion of the rental income is being considered as income, but there'll be a dozen ways this could be considered. 

What is it that you're trying to achieve?

I would start by reaching out to property managers and realtors in the areas you want to invest in and tell them what you're trying to accomplish and see how they can help you achieve your goals.

Our first two deals were a single family home and a duplex, both are working to help us achieve our goals.