She mentioned the market for resale properties is super-hot in Madison right now, and she suggested I check out a certain planned community nearby.   

We are sandwiched between well known hot spots and its an ideal location for someone who wants to explore the beach life or any of the down-town areas nearby (Los Angeles, Long Beach, Redondo, Manhattan, Southbay Etc), new build with modern amenities, washer/dryer in unit, full sized fridge, dishwasher, professional range cooktop, queen bedroom, full standing shower, large kitchen, full sized couch in the living room, private front patio. 

I, like many used to think “newbies” posted questions or asked for “help” to obtain the best advice from experienced investors, obtain guidance on strategic alternatives, or get a qualified opinion on whether the latest hot guru was worth the $40k price of admission.But, I was WRONG.No, none of those reasons are why newbies come to BP.They don’t want to find out that their “revelation” about how to invest has been tried about 10 million times - with limited successThey don’t want to learn that without capital, knowledge and experience their willingness to commit weekends is near uselessThey don’t want our opinion that they should skip trying to wholesale and spend some time learning as a licensed agentThey don’t want advice that has them taking classes at community colleges or learning real estate law, finance, or principles.So WHAT do they seek when they come to BPThey want comfort, encouragement. and to be told their thoughts are correct.

@Anthony Vander Meer Does the rent include electricity, heat or hot water?

On the flip side, income can be less predictable due to seasonal fluctuations, they require more intensive management, and are subject to varying regulations.Key Considerations:Financial "Rip Cord": Determine your financial threshold for continuing to float the property without a tenant.

With it being hot ACs are running all the time so you can have issues with those.

The buyer grosses up the offer to include the commission funds, allows them to add it to the mortgage.But, at the end of the day, the grossed up offer number still has to appraise, which makes it tough to ask for seller concessions in a hot market.

The other route I like is investing in hot markets in STR's, we're halfway through the summer right now.

Destination parks are the most intensive from a management perspective.

In terms of up and coming locations....If you drop a pin anywhere in Middle Tn it's going to be a "hot spot" in the near future if it already hasn't become one.