You’ll want to make sure your property is styled and stocked to fit the target market catering to what Big Bear has to offer and what guests expect.

Are there specific factors you look for in an area to make sure it’s a good fit for this type of rental setup?

I'd start by refining your search criteria, researching the surrounding markets, and comparing them to what best fits your needs, etc. 

Also, coming from running a business just think of RE as a business (which it is), the numbers have to work and your investments need to fit into the big picture.

Eventually I realized that you really just need to look for a deal that fits your criteria.

I'd be happy to connect and discuss how the Memphis market could be a great fit for you!

fit into the mix?

My family actually have some properties in FL, and I have also researched this area quite a bit and I saw it might fit my strategies. 

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I'm planning on buying a small multifamily first and foremost so I have a place to live and then will either buy a single family or another multi family depending on what I can find/fits my criteria at the time.