If you flip your flooring upgrades and appliances will probably need to be of higher quality vs a rental.

I have owned iand self managed all for 8 years.As for point 1, I agree there is a higher demand for Gatlinburg, but it isn't that high to be called ground zero.

Credit score- the higher the best. 760-780+ generally gets best pricing for investment property loans with most lenders.

Also the tenants job turnover seems to be much higher. 

Columbus is going to be a market with more expansive growth compared to Cleveland, which is currently pretty steady with higher cash flow but less appreciation. 

I've seen where people add so many loan extensions with optional payment.Say 1k gives you a 1 or 2 year extension and this can be done 4 or so times.This agreement could be changed so many ways to make it work.You could offer a higher interest rate after 7 years to extend to 15 years.

This gets my mortgage payment barely at break even for LTR value, (could be negative cash flowing), and lowers to about a 6% CoC (with down payment, renov and furnishings' costs)About 1.5 pt lower than my goal and with an MAO $10K higher than I wanted.b.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

I know your cost of living May be higher than mine was (I live in Virginia), but the skills you develop from this will be extremely useful in many ways. 

They have some things designed for higher end investors.