If you do decide to start flipping homes- as a new investor you can either self finance with all cash, or you can contact a commercial lender like myself and expect terms to be 75-80% of the purchase price with 100% of the rehab financed through a draw.

well if I ever make it to the Smokies to see what the draw is  I will rent a condo then :)  I am just guess but I suspect folks that go there want to be in the woods and hear the birds and maybe some local mtn views etc.. or some sort of privacy they never get at home out east were there is not very much public lands close to where they live in the big city. ????

That they don't service their loans well, lag on draws, say they can close fast but don't etc etc.

This influx of high-paying jobs (averaging $60 per hour) is expected to draw a significant number of professionals to the area, boosting demand for housing and various services.

After the purchase I use the money parter's money to fix up the property and I get rehab draws from the hard money lender to reimburse the money used for rehab.  

I would caution you with searching for lenders as those that don't follow a draw process or will lend on anything may not actually be a lender and trying to scam you.

And to be truthful it's not like I have a JOB in a business I owned from which I could draw a defined salary.  

What is drawing you to that specific location?

or just explain as in a demand.it this 40k gross or Net.average rentals these days produce either negative cash flow or 100 to 200 to 500 a month positive depends on how much you put down. if you pay cash much higher.but lets do average 200 month positive and lets say you meant to ask NET cash flow to live on. then you need to take 40k divide by 200.00 and there you go you need 200 doors .

I get rehab draws from the hard money lender to reimburse for the repairs.5.