The property will need to have a slight rehab to get it up to STR standards, but when complete it should easily be a $200k Gross booking revenue property.

., adding a new street address with USPS, etc.).

I am planning to get into the TN real estate market as my first investment and am looking for some information.In particular: Areas to steer clear of, property management fees, typical cosmetic rehab costs, etc.My strategy is to put large down payments on 2 properties (relative to housing prices) to help pay for my living in NY while still gaining appreciation in a growing real estate market.

For example funding rehab with the goal of a quick refi to pay off the heloc.

If I were in your shoes, I’d look at the BRRRR strategy (Buy, Rehab, Rent, Refinance, Repeat) to stretch your liquidity while building equity and cash flow.

I am researching if these would be good to hold and rent if we do end up with them or just do some easy rehab and flip them.

While the property was 2 build eligible, due to the lot size, highest and best use would be to rehab the property.

These are all expected.I can send you a rehab template to look at if you'd like.Your most important number is going to be your ARV. 

While the property was 2 build eligible, due to the lot size, highest and best use would be to rehab the property.

Not knowing the configuration of the church the appraisal may be less than your purchase cost plus rehab costs.