At this point, I would recommend having a line of credit to cover these things so you don't have money sitting in the bank doing nothing when it could be put to work.I have 33 units, no debt except for mortgages, and excellent income.

BP serves as an excellent platform for networking and ongoing education.

Various legal setups can  mitigate a large part of this risk.  

-Creates a solid foundation for passive income, allowing you to reinvest future cash flow into other opportunities without as much financial risk.Cons:-Ties up a large amount of capital that could potentially be used to generate higher returns elsewhere (like another STR or other investments).

Brandon Turner's Rental Property Investing book is an excellent primer to understanding the happy path for purchasing a property - however in this market it really comes down to having bulletproof assumptions on rents/taxes/R&M/etc. as with rates as high as they are/inventory as low as it is, there is less cushion in your returns if you analyze properties with bad assumptions.

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.

These are what we call "A-class" markets—areas with strong fundamentals, high demand, and typically excellent long-term appreciation.

Don’t hurt your ranking by splitting your property into many baskets… especially those personal websites!!!!

Utilities, insurance, pm, misc would place my expense estimates about 10% higher than your estimate.we agree that mls San Diego properties at 75% LTV are likely large negative cash flow. 

Live-in-flip a four plex- live in one unit while you rent the others and benefit from the other 3 units paying a large chunk if not all of the mortgage.