Hello,My wife and I recently found a property that fits all of the things we are looking for, perfect location, price, rooms, etc. except for one problem: The previous owner was a smoker :( Does anyone have experience buying/renting out/living in a home previously owned by smokers?

Section 8 rentals are frequently located in extremely low barrier of entry markets, especially the single-family homes and small multi-family properties which I assume has also led to an influx of inventory.

----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I am curious of where people find these low priced homes, if it is my location that is the problem, and if $30k-$40k homes are still possible to flip?

I'll include all details below.THE LOCATION: The hotel is conveniently located in the breathtaking Smoky Mountains, just minutes away from the Great Smoky Mountain NP entrance.

An ADU is a secondary dwelling unit located on the same lot as a primary residence.

Lots of factors in every location. 

It's a low barrier to entry and a good option for you, I would highly and I mean highly recommend you focus on location.

-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

HI There;There are two properties built in 1894 located in South Orange, New Jersey.