@Patrick Lismon While I don't know the Memphis market per se, I do work with many developers/investors that focus on the workforce/Section 8 housing space.

Not per se.

Not high crime, per se, but definitely the neighborhoods that feed into "fine" schools. 

https://vikingcapllc.com/listen-watch/hyrowebinar/I do not have commentary on this offering, per se, but rather for any pref equity fund investment:What are the terms the underlying GP is signing off on, that allows Viking to offer you, the LP, an 11%+ return, net of all fees and carried interest?

Markets like Akron & Canton, OH and Columbus, GA (although SE) are especially solid right now with turnkey options and motivated sellers offering incentives.

There are assuredly more cost-efficient times to start your portfolio, but there's no right time per se. 

I am not a broker per se I do make new orginations every week though.. and I have sold many many properties over the year with seller finance that I owned. 

For flips, use an S Corporation to reduce SE taxes.

IN generally I've seen the idea be that you se aside a certain amount each month so that when the time comes it is there. 

SW1/4 SE ¼Section 15, Township 73, Range 42, Mills County.Description of project: Developing a subdivision withlots ranging from 2 acres to about 10 acres.