I don't work in Nashville area but $165 per sq ft seems quite low to me.In terms of financing, I would speak with a few construction lenders and also hard money lenders.

Of those 10, 5 will need long term follow up, 3 will be tire kickers, and 2 will have actual immediate interest but only 1 will pull a trigger. 

But, it is bad for landlords, long-term.

Much better as a short term acquisition strategy for flips IMO but always a high-risk strategy that should not be practiced by anyone who doesn't have the liquid capital to pay off the loan if needed.

In my mind sub to is for short term .. long term rentals is very problematic for many reasons. 

I also suggest you post your listing to "Short Term Rental Listing Advice" on Facebook and let them give you more feedback as well.  

Cash flow of $150-$300 per month is pretty common for many new investors, and whether it's 'worth it' depends on your long-term goals.

As with every loan process, there are terms and steps the foreigner needs to follow, such as the loan application, which includes pre-qualification and property evaluation.

Although whichever option you go with make sure you're also thinking about the long-term property value and what makes the most sense vs trying different angles now that negatively impact future resale/property values down the line. 

Our firm is planning on starting a Portal (legal term) next year on our roadmap because with $5M as the new threshold this really can move the needle for certain projects and sponsors.