I'd like to know your thoughts/advice on how to compare long-term and mid-term rentals.

I agree with @Michael Baum, are they true comparables? 

It amazes me the nice cars, clothes, and general stuff that my renters have compared to what I own. 

Not the greatest occupancy rate, especially when compared with somewhere like the Smokies.

I would find a loan officer that does both conventional and FHA renovation loans to compare which has better rates and terms for your situation.

Looking at this past week's CMI, it's interesting to see the buyer/seller positioning in the SE-ish area compared to the NW-ish area with rates high 6's in JanuaryStill bullish on W/NW future demand due to TSMC factory and other companies (dashboard snapshot below) but time will tell.

You can also look into building a rental portfolio which is a little less hands off compared to flipping.

What is the interest rate on borrowing compared to the rate you are earning, then take into consideration the tax consequences. 

If your rent ends up being comparable to your current mortgage, it might not give you the cash flow flexibility you’re hoping for.

They said this is an older home, and has had some minor renovations but it probably would need some form of work if comparing it to the fully reno homes in that area.