SFR's in Memphis are pretty simple, especially with the turnkey companies I am working with. 

And 36 Other Key Financial Measures 2nd Editionhttp://www.amazon.com/Every-Estate-Investor-Financ...Landlording on Auto-Pilot: A Simple, No-Brainer System for Higher Profits and Fewer Headaches Paperback – July 28, 2006http://www.amazon.com/Landlording-Auto-Pilot-No-Br...Stay away from Rich Dad hype books, but it's worth reading them to understand your competition's mentality. 

Now, it's almost a month later, I have contacted her twice already, and she keeps apologizing and saying the bid is coming.Time is quite literally money here.  

Because this is my first investment, a part of me feels like I should keep it simple and purchase a property intended for long-term lease.

It used to be very easy to set up a simple land bank to "sell" the developed asset into in order to either enjoy cap gains or do a 1031.  

I bought a house 4 years ago for 15K, and literally 500 feet away houses were selling for 400K if that gives you perspectitve. 

It is SIMPLE.

Appraisers can literally use any comp they want and can easily change the value up or down so significantly its ridiculous.

As you make drip inspections, go ahead and install more efficient toilets, meters, and implement other simple strategies to lower your water bills.Low-water toilets reduce flush amounts from 3.5 to 1.6 gallons per flush, but other cost-efficient options are available.

A lot of these organisations / people / groups have free or low cost meetings where you can learn from a speaker at the front of the room (who is usually pitching something) but the other people in the room are all of mixed experience background and needs who you can learn as much from if not more when having a basic conversation that is often best started with a simple 'hello i'm Craig, What are you here for and how might i be able to help you?'