Looking for my first property in TN

[Joe Banks]

Hello Bigger Pockets members, I need your help. I’m looking for a 4 bedroom, 4+ bathroom home to do the Bigger Pocket's Rent by Room House Hack Stack, as seen in this YouTube video: 

 

Price 400 to 700k. Good neighborhood and on a good street. Safe and with good schools. 

Will be FHA loan with 3.5% down.

Enough parking for 4+ cars. No HOA.

Close to the 1% rule and positive cash flow using slightly below market rent numbers. 

I don’t mind some cosmetic repairs but nothing serious. Not a ton of grass. 

I have been reading about real estate investing for many years and did just one house flip a couple of years ago. So I'm a total newbie. I am a healthcare worker with high income and credit score is currently 780. Am ready to begin my rental portfolio. I like TN because of the low taxes and I spent a day in Knoxville and loved the energy. 

Please let me know if you see any properties that meet that description.

I look forward to working with you!

Joe

[Saunya Wenger]

I was inspired by the rent by the room model also. I have a four bedroom home that I am planning to rent out in a few months. I like my neighbors and want to find a good tenant for them because I may move back into my home in a few years. I think some neighborhoods would be more conducive to the rent by the room model than others. My neighbors would hate it if I had this arrangement. If I were in your shoes and getting a home that I was unattached to emotionally I would look closer to the city than the suburbs and maybe closer to Oak Ridge. There are lots of professionals in that area.
One more thought: Don’t buy on a cul-de-sac where lots of small kids live. These parents are very watchful and protective of their space.