Pete for an STR—it's a strong market, but working with a broker or a consultative lender who understands the nuances of short-term rental underwriting is key.

If you are able to add an additional full bath, it sets you apart in the market big time! 

With that kind of equity you would be to find a newer, nicely performing Quad in a market that is appreciating. 

Quote from @Brandon Croucier: That’s a killer loan if they are actually offering that.Seems extremely below market value as even primary mortgages are higher than this right now.I would beware of a bait & switch on this. 

I am looking at possibly investing there again as the Atlanta market is saturated.

The market appreciates 3% per year.Pay cash for one house and rent it for $1,500.

I would hop that these interest rates are the highest that we will see in the next ten years but you never know where the market will go. 

You tell me a market that was hit harder than Vegas?

Hi Yael, I am a featured agent from Bigger Pockets in the QC market and can assist with all of your questions.

There are a lot of affordable properties in Knoxville, but the growth isn't terribly vibrant and the deman isn't what you'd expect for a city of that size and that close to the Smokies - you're mostly looking at college rentals for the meat of the move season, and the SF market, while it exists, doesn't really compare to Chattanooga.