we see so many new investors wanting "cash flow" on day 1 and that's not actually how this works.hope this helps - happy to answer any more questions you havei say all this not to be discouraging but just to be realistic about what to expect.

Above $1M or so you start to see diminishing returns.As far as answering your questions, if it were my market I would likely buy 2 properties to spead risk primarily. 

Glad this is not my market, but I'm interested in the answers here!

I understand the qualification criteria for REPS but have a slightly unique situation that I haven't found any answers for by searching...99% of my income is from my insurance agency that I solely own.

Thanks for your candid answers,"Newbie" Scott

”Maybe” generally isn’t a way to make anyone happy and if they wanted it painted they shouldn’t have accepted that as an answer. 

I’m a real estate agent based in Memphis and help out-of-state investors build and grow their rental portfolios here, so if it’s ever on your radar, happy to answer questions and point you in the right direction.

Most investment calculators won't answer your question.  

Quote from @Drew Mullin: Whenever I look up the best cities to invest in (fix and flip), there seems to be many different answers.

If you ever decide to explore a cash-flowing market, happy to answer questions and share what works here.