I saw so many multifamily for sale under $100 thousand in 12209, but not sure if it is a good catch.

There is also one big issue with your tax projection - the taxes of $280 are based on the vacant land taxes and will likely go up to ~$2000-$3000 in a year or so when the assessor catches up with you.I realize there is a 1031 involved so a real estate purchase is necessary, but you should compare your ROI to a safe yielding instrument like a 10 year T-note or AAA corporate bond yield. 

Quick thoughts on the markets you're considering:Knoxville, TN: Growing, affordable, and a strong university presence.Huntsville/Montgomery/Tuscaloosa, AL: Huntsville's got tech, while Montgomery and Tuscaloosa have colleges.Asheville, NC: Popular tourist spot, but competitive and pricey.Akron, OH: Affordable, but keep an eye on the local economy.Irving, TX: Part of DFW, so a big market, but prices are higher.St.

With only 4 rooms it wouldnt be worth it in my eyes. 

Make sure you get trusted eyes on the foundation and have it inspected. 

@Marc YoungWhat catches my eye in your post is this:“I don’t want to have to wait a long time to save more money to buy my second one.”

There are a couple of things that caught my eye...$168.88 Simmons Premium Hybrid Memory Foam Mattress 10" - https://www.amazon.com/gp/product/B09PFJNFV4/ref=sw_img_1Could be a good mattress.

That will open your eyes to the process and scaling will make more sense from there.

Purchase price was like 75K.....after the replat it became worth 200K+........definitely caught my eye

They want someone with eyes and ears onsite for you because you being that far away how do you know the work is being correctly performed?