Looking for rental or seller financed with land 1h from Memphis max

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Looking for rental or seller financed with land 1h from Memphis max

New to Real Estate · North Carolina, USA · Member since 2025 · 27 posts · 5 votes

Good afternoon everyone,

I am a post doc starting at St Jude's children hospital and currently looking for housing. I am interested in buying a property through seller financing or renting a property.

Property needs to have a house with minimum 2bedrooms and minimum 2acres of land. Pros if its in the middle of nowhere, and a trailer/single wides/double wides are ok. Drive needs to be less than 1 hour to St Jude's in Memphis.

Budget max 2-2.5k/month.

Thank you!

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Ryan ThomsonBusiness Member

Real Estate Agent · Colorado Springs, CO · Member since 2018 · 1k+ posts · 1k+ votes

5mo

The 1-hour ring from Memphis gives you a solid search area. West Tennessee counties like Tipton, Fayette, and Hardeman regularly have rural properties with acreage where owners are more open to seller financing, especially if the land has been sitting a while. DeSoto and Marshall counties in Mississippi are worth looking at too.

For seller finance, the sellers most likely to play ball are:

- Free and clear properties (no underlying mortgage to complicate things)

- Owners who've held 10+ years with lots of equity built up

- Estate and probate situations where heirs want a clean exit more than top dollar

One thing worth knowing if you're open to properties with an existing home on the land: any FHA loan is assumable by law. Rural areas around Memphis had decent FHA loan volume in 2020-2022. If you find a place with a 3.5% or 4% FHA loan still attached, you can assume that rate instead of taking new financing at 7%+. On a $300K loan that's roughly $650/month difference. Worth asking the listing agent before you write it off.

For sourcing deals, land.com and AcreTrader get overlooked compared to Zillow. But honestly the best rural deals I've seen come from county agent relationships or just driving the area and looking for overgrown properties with tired owners.

What acreage minimum are you working with?

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Ryan ThomsonBusiness Member
Real Estate Agent · Colorado Springs, CO · Member since 2018 · 1k+ posts · 1k+ votes
5mo
The 1-hour ring from Memphis gives you a solid search area. West Tennessee counties like Tipton, Fayette, and Hardeman regularly have rural properties with acreage where owners are more open to seller financing, especially if the land has been sitting a while. DeSoto and Marshall counties in Mississippi are worth looking at too.
For seller finance, the sellers most likely to play ball are:
- Free and clear properties (no underlying mortgage to complicate things)
- Owners who've held 10+ years with lots of equity built up
- Estate and probate situations where heirs want a clean exit more than top dollar
One thing worth knowing if you're open to properties with an existing home on the land: any FHA loan is assumable by law. Rural areas around Memphis had decent FHA loan volume in 2020-2022. If you find a place with a 3.5% or 4% FHA loan still attached, you can assume that rate instead of taking new financing at 7%+. On a $300K loan that's roughly $650/month difference. Worth asking the listing agent before you write it off.
For sourcing deals, land.com and AcreTrader get overlooked compared to Zillow. But honestly the best rural deals I've seen come from county agent relationships or just driving the area and looking for overgrown properties with tired owners.
What acreage minimum are you working with?
The Assumable Guy544 Reviews
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- Chloe Mariant
  OP
  New to Real Estate · North Carolina, USA · Member since 2025 · 27 posts · 5 votes
  5mo
  Quote from @Ryan Thomson:
  
  The 1-hour ring from Memphis gives you a solid search area. West Tennessee counties like Tipton, Fayette, and Hardeman regularly have rural properties with acreage where owners are more open to seller financing, especially if the land has been sitting a while. DeSoto and Marshall counties in Mississippi are worth looking at too.
  For seller finance, the sellers most likely to play ball are:
  - Free and clear properties (no underlying mortgage to complicate things)
  - Owners who've held 10+ years with lots of equity built up
  - Estate and probate situations where heirs want a clean exit more than top dollar
  One thing worth knowing if you're open to properties with an existing home on the land: any FHA loan is assumable by law. Rural areas around Memphis had decent FHA loan volume in 2020-2022. If you find a place with a 3.5% or 4% FHA loan still attached, you can assume that rate instead of taking new financing at 7%+. On a $300K loan that's roughly $650/month difference. Worth asking the listing agent before you write it off.
  For sourcing deals, land.com and AcreTrader get overlooked compared to Zillow. But honestly the best rural deals I've seen come from county agent relationships or just driving the area and looking for overgrown properties with tired owners.
  What acreage minimum are you working with?
  
  Hey Ryan!
  Thank you so much for all that information.
  Any chance we could get in touch? Is this an area you work in?
  0 Reply
Jake YuskaitisBusiness Member
Lender · New Jersey, USA · Member since 2022 · 254 posts · 67 votes
5mo
memphis is rough. really seeing lenders tighten up there.
[email protected]551-287-6884
Frontier Funding LLC533 Reviews
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- Chloe Mariant
  OP
  New to Real Estate · North Carolina, USA · Member since 2025 · 27 posts · 5 votes
  5mo
  Quote from @Jake Yuskaitis:
  
  memphis is rough. really seeing lenders tighten up there.
  
  what do you mean by memphis is rough? and what do you mean by lenders tighten up there? any context??
  0 Reply
- Jake YuskaitisBusiness Member
  Lender · New Jersey, USA · Member since 2022 · 254 posts · 67 votes
  5mo
  Quote from @Chloe Mariant:
  
  Quote from @Jake Yuskaitis:
  
  memphis is rough. really seeing lenders tighten up there.
  
  what do you mean by memphis is rough? and what do you mean by lenders tighten up there? any context??
  it's one of the worst areas in the US.
  
  not a lot of lenders are even lending there and if they are it's on a restricted basis so your loan options will be limited. I would never invest there myself.
  [email protected]551-287-6884
  Frontier Funding LLC533 Reviews
  Website View Page
  0 Reply
- Chloe Mariant
  OP
  New to Real Estate · North Carolina, USA · Member since 2025 · 27 posts · 5 votes
  5mo
  Quote from @Jake Yuskaitis:
  
  Quote from @Chloe Mariant:
  
  Quote from @Jake Yuskaitis:
  
  memphis is rough. really seeing lenders tighten up there.
  
  what do you mean by memphis is rough? and what do you mean by lenders tighten up there? any context??
  it's one of the worst areas in the US.
  
  not a lot of lenders are even lending there and if they are it's on a restricted basis so your loan options will be limited. I would never invest there myself.
  
  I started work here so I need a place to live Jake. I’m not trying to invest.
  0 Reply
Nicholas L.Pro Member
Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
5mo
@Chloe Mariant
hello. i don't know the TN markets as i invest in PA. in my experience seller finance deals are out there but are difficult to find. if you're serious about finding one it might take some work. you could try connecting with other local investors and see what they think.
the best way to find one would be to do your own marketing but in your role you may be too busy for that.
hope this helps
0 Reply
- Chloe Mariant
  OP
  New to Real Estate · North Carolina, USA · Member since 2025 · 27 posts · 5 votes
  5mo
  Quote from @Nicholas L.:
  
  @Chloe Mariant
  hello. i don't know the TN markets as i invest in PA. in my experience seller finance deals are out there but are difficult to find. if you're serious about finding one it might take some work. you could try connecting with other local investors and see what they think.
  the best way to find one would be to do your own marketing but in your role you may be too busy for that.
  hope this helps
  
  Hi Nicholas,
  Yes-hence why I am posting on the biggerpocket forum and not on the typical social media page! Thank you!
  0 Reply
- Chloe Mariant
  OP
  New to Real Estate · North Carolina, USA · Member since 2025 · 27 posts · 5 votes
  5mo
  Quote from @Nicholas L.:
  
  @Chloe Mariant
  hello. i don't know the TN markets as i invest in PA. in my experience seller finance deals are out there but are difficult to find. if you're serious about finding one it might take some work. you could try connecting with other local investors and see what they think.
  the best way to find one would be to do your own marketing but in your role you may be too busy for that.
  hope this helps
  
  Thank you Nicholas that is helpful!
  0 Reply
Jim Johnson
Real Estate Agent · Memphis · Member since 2026 · 591 posts · 347 votes
5mo
You should be able to find something that fits that setup — but the “2+ acres + under 1 hour to Memphis” combo is what narrows it down pretty quickly.

Most of the options that check those boxes tend to be just outside the core areas — places like Millington, Arlington, Marion, or parts of North Mississippi. That’s usually where you’ll find more land and flexibility on property types (trailers, single/double wides, etc.).

On seller financing, there are definitely opportunities in the Memphis market, but they’re more common on lower-priced homes or larger land parcels rather than turnkey rural setups.

With your budget ($2–2.5k), you’re in a solid position for either:
• Renting a small house on acreage (if available)
• Or structuring a seller-financed deal on a more basic property

The challenge is inventory — properties with land don’t show up as frequently, so it usually comes down to staying active on listings and local groups.

If you’re flexible on exact location, that’ll help a lot. The further out you go (while staying within that 1-hour radius), the more likely you are to find something that fits both the land requirement and budget.
1 Reply
- Chloe Mariant
  OP
  New to Real Estate · North Carolina, USA · Member since 2025 · 27 posts · 5 votes
  5mo
  Quote from @Jim Johnson:
  
  You should be able to find something that fits that setup — but the “2+ acres + under 1 hour to Memphis” combo is what narrows it down pretty quickly.
  
  Most of the options that check those boxes tend to be just outside the core areas — places like Millington, Arlington, Marion, or parts of North Mississippi. That’s usually where you’ll find more land and flexibility on property types (trailers, single/double wides, etc.).
  
  On seller financing, there are definitely opportunities in the Memphis market, but they’re more common on lower-priced homes or larger land parcels rather than turnkey rural setups.
  
  With your budget ($2–2.5k), you’re in a solid position for either:
  • Renting a small house on acreage (if available)
  • Or structuring a seller-financed deal on a more basic property
  
  The challenge is inventory — properties with land don’t show up as frequently, so it usually comes down to staying active on listings and local groups.
  
  If you’re flexible on exact location, that’ll help a lot. The further out you go (while staying within that 1-hour radius), the more likely you are to find something that fits both the land requirement and budget.
  
  Hi Jim, I dont think that all of what you says makes sense yet to me.
  
  Millington, Arlington, Marion, or parts of North Mississippi are all within one hour of Memphis so they are definitely part of my search. I am not trying to leave in Memphis, but rather outside of Memphis in the countryside. Buying land and setting it up for a home would be okay too but I just dont see how to buy land separately and then do the home construction or trailer setup is doable right now.
  Again, not picky about location, just trying to stay within reasonable driving range for work. My main focus is to have some space and a more country setting.
  Thank you!
  
  0 Reply
Matthew Bernal
Investor · Austin, TX · Member since 2021 · 497 posts · 127 votes
5mo
Congrats on the new role at St. Jude’s. You’ve got a clear target 2+ bedrooms, acreage, under an hour to Memphis, and open to seller financing or renting, which gives you flexibility.

Properties like that do pop up, especially outside the city, but the financing route can depend heavily on whether it’s a traditional home, land/home combo, or manufactured setup.

I help people think through unique scenarios like this often. Are you mainly hoping to purchase now, or open to renting first while you learn the area?
0 Reply
- Chloe Mariant
  OP
  New to Real Estate · North Carolina, USA · Member since 2025 · 27 posts · 5 votes
  5mo
  Quote from @Matthew Bernal:
  
  Congrats on the new role at St. Jude’s. You’ve got a clear target 2+ bedrooms, acreage, under an hour to Memphis, and open to seller financing or renting, which gives you flexibility.
  
  Properties like that do pop up, especially outside the city, but the financing route can depend heavily on whether it’s a traditional home, land/home combo, or manufactured setup.
  
  I help people think through unique scenarios like this often. Are you mainly hoping to purchase now, or open to renting first while you learn the area?
  Hi Matthew,
  I’m definitely thinking about renting while I can figure out a property to buy.
  What services do you offer?
  0 Reply
Matthew Bernal
Investor · Austin, TX · Member since 2021 · 497 posts · 127 votes
5mo
I help investors and future homeowners with financing options tailored to their goals, whether that’s buying a primary home, rental property, or investment deal. I can also guide you through loan strategies, pre-approvals, and help you understand what options make the most sense based on your timeline. DM you!

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