Option A would allow me to keep it as a long term rental .

What other options would be good?  

Great points, ZharaBirmingham has relatively steady and diverse rental demand, and I’ve seen many investors I work with have success with C/B class buy-and-holds.Location is key—areas near UAB, major employers, and popular suburbs tend to have the strongest rental demand, while C/D class markets offer solid affordable housing and Section 8 opportunities.

Gas or electric would be a much better option, safety wise, from a house fire standpoint, CO danger, or danger to children or pets from the open flames. 

I initially offered $200K in cash, but the seller countered at $240K.

Based on the below information, what would you be offering for these?

Having the VA option is certainly a benefit and we're excited to get started now.  

Nashville has been growing luxury offerings with the openings of hotels like the Four Seasons Hotel Nashville, SoHo House Nashville and 1 Hotel Nashville and restaurants like Craig’s, Sushi Bar, Joe Muer Seafood, Harper’s and more (CoStar).Today’s Interest Rate: 7.02%(👇.03% from this time last week, 30-yr mortgage)Fannie and Freddie: What are they?

Is it worth it for someone like me who hasn't done any deals yet, but is going to be making offers on my 1st investment property in the spring?

It’s definitely smart to evaluate the tax and cost implications of your funding options.