Keep in mind this will be at a much higher rate than your current 3.2% interest rate, so I'm not sure if paying off the existing loan is a great choice.

Always keep in mind the alternative, the bank has no duty to sell for less than what the open market will bare for the asset.

Specifically:Share your experiences investing in Knoxville.Recommend resources or tools for market analysis.Help me find off-market properties, turnkey rentals, or connect with wholesalers.I’m eager to learn from this community and collaborate with like-minded individuals familiar with the Knoxville market.

Possibly as an incentive you cover anything over a certain amount to give peace of mind to the renters.

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

Mind your own business - the house - send these people packing and give it to your insurance company.  

Keep in mind that many of these cheap homes are selling for less than a third of their insurance replacement value, which really means that the land has negative value - let that sink in.Most buyers who can actually qualify for a mortgage will get a PA for $200-300k and desperately want to upgrade their life.

This used to be a non-issue for FHA buyers up until 10 years ago when HUD stop allowing buyers to use their appraisalsKeep in mind your agent is not dealing with HUD directly. 

In our minds, we come out ahead as we get exatly what we've been looking for.

Keep in mind that rates does not fully translate everything.