I've been wanting to finally jump into the game but have been hesitant as I'm relatively young (mid-20's), recently started my career, building up some of my own money, and just been nervous to make the jump.

We are at likely record high price to rent ratios (like much of the country) without much upside on rent growth in the mid-term paired with steeply rising taxes, financing, and insurance costs.

Like most resort areas, the Smokies experienced a bubble through mid 2023, and it is now slowly airing out.  

I originally thought about doing Airbnb, but now I am considering mid-term and even long-term.

Mid-term?

I have some mid range and excellent VAs I am happy to recommend as well if anyone is in the market.

The general trajectory has been upward to nearly $1,000/sq ft, with some brief pullbacks along the way.Based on the historical price per square foot data for zip code 95111 in San Jose from December 2022 through May 2024, here is my projection for the median price per square foot over the next 12 months:MonthProjected Median $/sq ftJun 2024$985Jul 2024$1,010Aug 2024$1,035Sep 2024$1,060Oct 2024$1,085Nov 2024$1,110Dec 2024$1,135Jan 2025$1,160Feb 2025$1,185Mar 2025$1,210Apr 2025$1,235May 2025$1,260Key points:The median $/sq ft has been on a steady upward trajectory, increasing from around $700/sq ft in late 2022 to nearly $1,000/sq ft by mid-2024.Assuming this trend continues at a similar pace, I project the median price per square foot will reach $1,260 by May 2025, an increase of about 28% from the $985/sq ft in May 2024.

gen Z covers a large range (young teens to mid 30s). 

A per bed, mid term approach seems like it would be the best approach in its current state.

I'm closing mid October so will be in the area to set it up late October if you want to meet up. :-)