Although I can't speak to the Banner Elk market, I'd be happy to share any insight on just STR investing in general as it related to our experience in Western NC.Good luck!

I also recommend speaking with several insurance companies to confirm you are getting the right answer/price.

I can speak from experience as a student at Texas A&M, I lived in a 5 br/5 b house and I knew plenty of other students who lived in similar houses or "Ag Shacks" if you will.

how well do you speak Japanese? 

Live in a unit for 6-12 months and move out and rent all of the units.Then refinance the property into a conventinal loan freeing up your entitlement and buy another property. 

@Brooke Carlton did you speak with the current lender about their willingness to finance some of that gap for a potential buyer? 

If anyone has the names of such non-profits and/or anyone with experience doing this as a landlord, I would like to speak with you.Michael King

Because, the lender is entitled to know what risk they are taking with their money.That being said, on seller financing, if someone gets sued and loses, the lien/judgement can be filed at the county, (it's not automatic, someone has to prepare and send the paperwork) which the bureaus will pick it up on producing a credit report.

I can't speak too much to the market on the Westside, but as far as affordability on the West Coast Spokane is worth looking into.

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.