However, we have a higher end market so it always struck me as strange that we'd only provide such a small amount since it doesn't cost that much more to provide more.

Raising the  amount required to buy your target properties is not easy, and beyond the amount that must be raised without leverage it will be difficult for you to provide favorable return profile for your investors.

Again, this is only based on info you provided so there could be a lot more to the story for the good or bad but I can only comment on what was provided. not sure many are thinking rates are going to drop much in the next year.. seems like one would want to know how much they need to drop to see if the plan will work before putting good money after bad.

The right agent will provide a pro forma breakdown on every property they look at, have repair costs estimated, CapEx, etc...

Unless you have a way to source off market deals or have a crew to provide labor for below market value, you're kind of relying on hope and luck to find a deal that works.

Hello Satish- the greater Banner Elk area does have a lot going for it and the right property should provide you excellent income and a potential nice getaway spot. 

You can also look into partnering up with an experienced investor, and sourcing the deals or providing the capital in exchange for the mentorship. 

I have easily done this using services like Skipmatrix in the US.

If you are the nicest 4/2 out there in the market and all the rest have not been remodeled in say 15 years, and your property was remodeled a month ago then the price on your property will be easily justified at a higher price on the listing side. 

Having the contractor relationship in place to move quickly and provide a high quality renovation at a reasonable price.