New Knoxville Investor

[Arpit Guglani]

Hello!

I am new to Knoxville and RE investing. I am looking to buy an SFH\duplex where I can initially reside and then later on rent out. Would want something which can ideally cashflow but at least break even. Wondering what is the best way to go about doing this, so far two options seem appealing and make the numbers work:

(1) Buy a fixer upper downtown and rent by the room to students

(2) Buy in West Knoxville and renovate the basement and rent out each floor as an apartment.

Also open to other ideas such as buying land downtown and getting something built, but i have no idea what that would entail financially or time commitment wise. Also curious about east/north knoxville, but I dont know enough to feel comfortable with those areas yet.

The idea is to repeat the process (maybe without us moving each time, the next one can be a pure investment property) and buy one every year.

Input/help/guidance is welcome from those who have already travelled down this path.

Also, would love to hear about specific experts (lenders and contractors) who you would recommend.