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.

Finally, check with the Town to make sure there are no municipal liens, Make sure they're on Town sewer, check with the tax assessor to see how many bedrooms the tax office thinks there are, (important if you are flipping) buy ok to have more bedrooms if you are planning to buy and hold.  

My plan would be to use the equity loan from the second home to purchase another great deal (3rd home) and use the rental income from the second home to pay towards the equity loan and then start renting out the third home to get rental income and start paying off the mortgage on the 3rd home.

Let me know if you plan to make it so I can let the owner know and he can make sure they are properly prepared.

We've also been riding the wave of low interest rates for years and now that rates have risen investors have to be a little more creative with their investment plans and take a longer term view of stabilizing the building to make it a nice cash flowing property.Where are we going to find more 2-4 unit properties?

It depends on what your plans for the property are. 

Some parts of Trump 2016 tax plan.- Plan: 3 tax brackets.

If you don’t plan to sell the lots w/mobile homes is there a reason you have to split the lot?

If you do a furnished LTR you will still have to worry about your furnishings and possibly consumables/linens if you plan on providing that sort of thing. 

I’m planning to purchase some land and build a small 12x12 cabin.