Challenges?

My challenges are these:1.

That leaves many new home buyers to go to find older homes which are less supply right now.

Make sure you consider all the extra expenses that str properties have:third party software, supplies, county taxes and business licenses, utilities, internet, etc.and run the numbers to estimate what your cash flow will be in the high season and low season.  

Funny how real estate challenges often turn out to be blessings and learning opportunities in disguise.

Challenges?

I am interested in Memphis because it appears to be a good market for cash-flowing opportunities but can be challenging regarding crime and slower appreciation.My Finances:My W2 nets me about $150K a year average (commission-based).

Here is one of my settlement statements from a recent property I purchased. well thats easy enough lets chat next week about this.. my clients could use this I think as more of my clients are refinancing and building portfolios these days then flipping. and for sure the BRRRR is a challenge for them getting values where they want them IE  total OPM which is my companies service to my clients. 

That represents an increase of 10.3 percent;-Total dollar volume for full-year 2021 rose 28.2 percent to a record-setting $40 billion;-December single-family home sales declined 4.5 percent year-over-year with 9,272 units sold;-Total December property sales fell 1.9 percent to 11,432 units;-Total dollar volume for December rose 12.4 percent to $4.3 billion;-At $319,000, the single-family home median price rose 17.2 percent to an all-time high;-The single-family home average price climbed 13.5 percent to the second highest in history, $392,449;-Single-family homes months of inventory narrowed to a 1.4-months supply;-Townhome/condominium sales ended a strong year with a 21.5 percent year-over-year jump in volume, the average price up 13.8 percent to $258,139 and the median price up 20.9 percent to $220,000;-Leases of single-family homes rose 5.9 percent with average rent up 7.5 percent to $2,042;-Leases of townhomes/condominiums fell 23.0 percent with average rent up 5.5 percent to $1,731.

Good luck and don't stress it too much it will be a short term challenge for your investing career!