Can't give you an opinion on if it's a good deal or not. First we would have to look over the numbers, very closely. Then, a site visit, and then more digging into the numbers. I've found occupancy stat's generally may be over stated, costs, income etc. need to be reviewed very carefully. Then decide if it meets with your plans and goals, and expectations of the investment and the property.
If you're serious about Memphis properties, contact me and we can discuss what it is you would like or plan to do. There are some good deals, and some not so good deals. Let's talk about it.