I normally recommend a turnkey single family home (3b/1-2ba)/ light cosmetic work single family as a 1st investment.

I'm light on capital so paying a mentor isn't an option, but happy to split revenue (pay as I learn). 

I don’t think the competition in the smoky is light.

Bought under assessed value, slight value add through cosmetic rehab (paint, light fixtures, flooring) What was the outcome?

Functionally, it operates as a 2-story home since the downstairs area has multiple windows in each room and plenty of natural light.

I unfortunately had gotten in a deal with the owners of the program, a few things later things started to come to light because of another situation.

There is some additional information that wasn't mentioned in your post above which sheds a different light on the situation.  1.

On paper, it looked brilliant..cheap money, quick turnaround, and a profit projection that made his eyes light up.It taught me that the real risk isn’t just the cost of capital, it’s the predictabilty of your exit strategy.

Something that didn’t need a complete overhaul but something that I would do light cosmetic cleanup in a good area.Reason being is that let’s say I bought a 5 unit building for 500k and put $100k down.Let’s assume that building has $100k in annual gross rents.

As soon as housekeeping gives the green light I reach out, thank them for being great guests and offer 15% off a future booking if they make it within 2 weeks.