I find land lording experience to be more work and stress than I would prefer with small kids, but that it is still a nice defensive portfolio position.

Here is a link to the Las Vegas short-term rental page: https://tinyurl.com/2fcsjj32Whether you can offer a short-term rental out of a condo or apartment depends on the individual property.

definitely split the lot would be the highest and best use I would assume and sell them off individually 

Specifically:Share your experiences investing in Knoxville.Recommend resources or tools for market analysis.Help me find off-market properties, turnkey rentals, or connect with wholesalers.I’m eager to learn from this community and collaborate with like-minded individuals familiar with the Knoxville market.

It seems that having 5 units sends all the lenders into a frenzy as they prefer to loan on 4.

Mark Vorkapich of Gladstone Strategieshttps://www.gladstonestrategies.com/I do agree with the above on checking with your current CPA to see if they have a preferred provider - sometimes it is easier and with better results if your team already has a good relationship. 

it's a nice, expensive place to live but tougher to house hack unless you buy a big house and rent out individual rooms.)also, as @Jonathan Greene alluded to, the more you're willing to sacrifice, the better it will work. 

We recently did a loan involving a borrower with a mind-numbing operating agreement involving nested LLCs, retirement plans, and individuals. 

I have preferences but not set on any market in particular.

I'm looking to start off in areas with lower costs coming in, preferably under $100k single families but definitely under $200k.