I’m a licensed real estate agent here who works exclusively with out-of-state investors, and Memphis has a lot of what you're looking for:Low acquisition costs (often $100K–$150K for value-add SFRs)Strong rental demand and solid rent-to-price ratiosLandlord-friendly lawsEstablished investor ecosystem (contractors, PMs, investor-friendly lenders, etc.)I’ve worked with several investors in a similar stage.

My water heater was replaced several months ago. 

Community America Credit Union has been fantasitc for me and several of my clients.

But several other surrounding areas are ripe for deals thanks to rising inventory and softer prices.

We lived here for several years.

There are several strong paths depending on your goals, risk tolerance, and how involved you want to be.If your priority is maximum cash flow, some strategies to consider include small-to-mid-size multifamily properties in cash-flowing markets, short-term rentals in vacation or business-travel hubs, or even note investing and mobile home parks.

Or, if you put several Class D tenants in a Class A four-plex, what do you think will happen to the property?

There are several local meetups in both the seacoast and Manchester area that could be good place to connect with local players.

Several of my clients have been buying units in Grande Cayman Resort. 

I've got several clients both local and out of state that use that method.