Built in 1978, it is a 9000 sq foot land area, 3 storey shophouse building with 4 shops in the ground floor and 24 small 2Bed/2Bath apartments above. 50% the building is rented out (almost NNN arrangement) to a very stable national bank for the last 30 years, with another 10 - 15 years remaining on contract.

But I need alot of good advive as to how to get my foot in the door. 

I have met other Successful landlord Near notorious South Side but its still a HUGE risk for a rookie to me" (and like me)The statements are based on statistical evidence as I was responding to out of the area investors that never stepped foot into Newark and now they want to jump in the investment game blindly not knowing the harsh realities and risks they could potentially face.

The main idea is that 1 in 3 renters in Memphis have to spend more than half their income on rent.As someone who is looking into getting his foot into the door of real estate investment here in Memphis (where I live and work as a teacher), I have been conflicted by wanting to make money with a property and the ethical obligation of providing quality housing.At the beginning of each school year, as some may know, schools have to verify addresses to make sure that the student still lives in the district.  

The bigger banks didn't like the smaller metro areas - under 150 people per square mile.  

Also whats the Square Footage of the property so we can get an idea of the cost per sqft for a total rehab?

Install electric baseboard heaters with individual thermostats in those rooms - or a small wall unit suitable for that amount of square footage.

Great way to get a foot in the door.

I have gained knowledge from a few of the BiggerPockets books, but I realize I have only dipped my foot into the waters of real estate investment.

For example, Austin has seen such intense demand and limited supply that a 600 square foot house costs what a mansion does in other parts of the state.