First Time Invester STR Tennessee

[Account Closed]

Hello everyone I'm new to the BP community and have already read a lot of forums for STR in Sevierville TN area but would like some advice on my situation. I'm 25 with a great 9-5 job, my wife just quit her job to stay at home with our two kids and it has been a great decision although losing her salary was hard to let go of. So I started researching how we could bring in extra income and came upon Air DNA and the potential of STR in pigeon forge and Gatlinburg area. By the end of this year I should have 20-30k that I could put down towards a STR in that area, but I would like to either build my own small cabin one bedroom with loft ~1000 sqft, or purchase an existing cabin. Would it be possible to find something 150-200k in that area that would help us achieve some passive income? My wife is very detailed oriented and would be great at managing the property so we would do that aspect ourselves. We've built two homes and love building so we can create the look and feel we desire, but I know it can get expensive depending on land. We don't have any other debts except our mortgage, but limited funds for down payment. Any tips would be greatly appreciated, I know I have read a lot of Lucas and Avery Carl's posts and they could help me here I just don't know how to tag them in this post. Thanks everyone!

[John Underwood]

@Luke Carl and @Avery Carl can help with this.

I would think you could do better finding a deal on an existing house/cabin than building new and be up and running much faster.