I'm a financial planner, moved here six years ago. I'm active in the community and have lived downtown and now in East Memphis. I will tell you that Memphis is a local knowledge town. I've been where you and your husband are at, and you are at the mercy of trusting someone who you don't know who doesn't know you to help you make what is likely going to be only an OK decision on buying a house. Memphis has lots of variety, so tell us about you, and we can all have a discussion about where we think you belong. After that, you may seek a realtors advice if you are comfortable in taking that step, otherwise you'll be well served to rent in a good place, get to know the city, and then buy a house as soon as you know for sure where you want to be.
If I were to presume that you are an upwardly mobile young couple who wants to experience the vibrancy, culture, and character of a metropolitan community, I would VERY GENERICALLY suggest you live within the 240 loop, and stay within a mile North of Walnut Grove Rd or within half a mile south of poplar. Of course there may be a few affordable places in between poplar and walnut grove, but lots of those houses will be estate properties.