With a SUBJECT TO transaction or me taking over the HELOC liability entirely, I'd essentially be acquiring the property for $0.So to summarize: I'm not renting to family or friends.

To summarize, my question is this; Are the average CAPS higher there because of the market timing for Memphis, and if so, are there any safe areas to invest there or is the whole city loaded with crime.Thanks again for the input.

I've started to look through the great information you have to offer here and intend on following up with some of the recommendations for research that I have seen around the site; which seems to have been nicely summarized by @Shawn Holsapple.I am definitely interested in learning what property management has to offer.

I summarizing this whole thing because we could spend hours on that subject but that's the strategy that successful investors use and I would recommend doing research along those lines. 

I was summarizing Bill Gulley's site as well as several articles and threads on BP.Being the newbie that I am I was making sure that my assessment of the prevalent viewpoint on wholesaling is accurate before totally giving up on the idea.

Regarding 2):  Just to summarize my understanding of your response earlier: Even if i did/could do a 1031 exchange, it just makes my cost basis in the second house effectively make it appear (for tax purposes) like i paid less for it than i did( E.g., if i had cap gains of 100k on the previous house then i would end up with my second house cost basis being the cost of the 2nd house-100k.  

Here's one way: (summarized by Invictus Property Advisors) June 15, 2019 may come to be remembered as doomsday by the New York City real estate community.

Seller got a higher asking price, so lets summarize the outcome:Seller gets higher asking price so turns out financially betterRealtor gets lower commission so turns out financially worseBuyer loses deal and is scornedAs far as me not caring if someone takes my advice, you are making an assumption that it means I don't offer thoughtful advice.

A three-digit score is generated; it summarizes the possible danger of the tenant compared to others.Each individual score is based:Application informationPayment performanceEviction historyPast due accountsBankruptcy recordsCredit bureau data and scores Good luck!

You've also got experience renting, so it's not like you're new to this world.The advantage you have over other people is that you already understand the criteria for your investment.To summarize your criteria:Investment should be self contained, not requiring money earned from labor wagesInvestment should be profitable in 10+ yearsOn a scale of passive to full time job, @Ty Kirkpatrick's advice on investing in the paper side of things is the most passive, "buy and hold" would be somewhere in the middle, and full fix and flip would be the most time consumptive.