@Tim DelaneyI have recently been traveling central and NE Florida looking for stores that sell at MSRP.  

There are travel nurses & people who come from overseas for training who book for the full price sometimes for 3-6 months. 

I know that once covid goes away in a year or two, the whole world will go on a huge traveling spree with Spain being a big destination. 

Having lenders or partners upfront places you in a better and more confident negotiating position and in the event you find a deal and can't find the money, now you lost the deal and have to back out damaging your reputation as a closer.

I think you go where the opportunity is and where you have some leverage and if you feel that Tennessee offers you that, I would look there, just be prepared to use that as a learning experience, so you may need to travel more, which it sounds like you're willing to do.

If you’re confident in these numbers, it could help mitigate the risk.Exit Strategy: Your plan to refinance after construction is solid, but keep an eye on where interest rates are heading and ensure the cash-out refinance will cover the HELOC without leaving you in a tight spot.It sounds like you're on the right track, but if you're still feeling uncertain, it might be worth consulting with a local real estate professional or financial advisor who can help you analyze the deal further.

I'm really interested in getting started in property investment, but I'm struggling to feel confident in knowing where to start. 

Break it down step by step and you will feel confident to move to the next decision.  

The field has so much to offer, and I'm confident you'll do well.Looking forward to seeing your journey unfold!

Think about how can you make your property a no brainer when having to decide between an apartment and a home. 2-Contact homeowners who are not in your close proximity, so they do not feel threatened, and ask them what are they seeing in the market, and how are they are adjusting (most likely you are not the only one who is experiencing this). 3-  If you decide to work with a real estate agent, use one that works with rentals, and better yet, someone who specializes in property management as well, because they will help you weed out  bad applicants. 4- This last one I do not have experience with, but I would definitely try it if my rental was near a hospital: Partner with a company that finds housing for traveling nurses.