Costs can be on the lower end if you use more standardized templates, while custom documents tailored to specific deals tend to fall on the higher end.Location can also play a role, with attorneys in larger cities often charging more.

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

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. 

Adding taxes and insurance would be an even higher payment. 

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.

How much lower depends on what time of year the home was completed- Usually can charge a much higher rent for new homes.

Contrary to popular belief, this is not set because I believe it will give me a higher return.

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.

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

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.