If you buy in a prime location with desirable amenities, you’re setting yourself up for steady income and long-term growth.

Maybe I should join a meetup for another location?

This might be a question for our insurance broker/future attorney, but wouldn't the LLC be formed in Indiana since the rental property is located there (versus Illinois where we will be living)?

However, it was not something that we planned on and I did not have any sort of communication prior to with that particular poster planning to highlight their services. good point Joe will have to see if I can see that kind of behavior..

There are a lot of good things about Wyoming LLCs, but the favorable Wyoming laws don't matter as much because the state you are in will apply the laws of the state the property is located in. 

I agree with Collin.The Smokies do have a lot of competition, so you need to have a view, decent location, good to great amenities etc to stand out.We have a 6-bedroom cabin there, but I imagine a 3 to 4 bedroom would be in the sweet spot of not too big or not too small.

Compare other rentals with a similar size, location and bedroom count to get an estimate of what the rent would be while you're living there.

Jefferson park around the blue line, up and down milwaukee has all the precursors to becoming a gentrified location.  

Best way to find end buyers is to ensure it's well marketed - Professional photos, professional clean prior to listing, aggressive list pricing.

I would imagine most attorneys located around the MA, NH border area plan to make more than $200,000 per year.