I am planning to get into the TN real estate market as my first investment and am looking for some information.In particular: Areas to steer clear of, property management fees, typical cosmetic rehab costs, etc.My strategy is to put large down payments on 2 properties (relative to housing prices) to help pay for my living in NY while still gaining appreciation in a growing real estate market.

Let me know if you plan to make it so I can let the owner know and he can make sure they are properly prepared.

My boyfriend and I plan to move to Carbondale, Illinois at the beginning of next year.

The first step I'm doing is checking with the city zoning to see what they would allow before I get too deep with looking at plans, financing and construction. 

Ask the township for their 3-5 year development plan...

If you don’t plan to sell the lots w/mobile homes is there a reason you have to split the lot?

Overall I think nationwide it’s getting very tough to get into the STR space and make money and the fact that a municipality can tank your business at any time calls for a strong back up plan from the start!

With the current mortgage rate constraints affecting how many buyers are willing to enter the market we are seeing a lot of borrowers have success with the BRRRR strategy with plans to sell in the next 3-5 years when interest rates go down.Researching potential LTR and STR rental amounts and seeing if holding for a few years is a viable option is a good analysis to do well. 

So, I'd like to get ahead of the game and start working up a plan and a strong argument for it which I can use when the time comes. 

During the partnership, you can jointly manage the property, increase its value, negotiate a flexible repayment plan with the seller that allows for larger payments after the property appreciates, ensure a written agreement that clearly specifies repayment terms and timeframes and refinance, and the sellers are able to 1031 at their leisure?