Arbitrage and MTR units are not usually that successful because of the small profit margins and continuous things that need fixing.

Essentially it works out to them gifting us a house - they'll pay the down payment and reimburse us for mortgage costs each month, and when they die the house will be ours (and we will continue making the payments ourselves or sell it).I'm not sure yet how repairs will be funded, but either we or them could cover those costs financially and neither of us are going to be trying to squeeze the other one, so I'm not worried about managing that. 

But since you asked, my brain says Gatlinburg will continue to be "good", as it's been for the last 7 decades.  

pid=2114Houston Real Estate Highlights in August, 2024:• Single-family home sales declined 8.3 percent year-over-year• Days on Market (DOM) for single-family homes went from 43 to 47 days• Total property sales were down 11.2 percent with 8,730 units sold• Total dollar volume declined 8.8 percent to $3.5 billion• The single-family median price was down 0.3 percent to $336,940• The single-family average price rose 0.9 percent to $421,912• Single-family home months of inventory registered a 4.5-months supply, up from 3.2 months last August• Townhome/condominium sales continued to decline, falling 16.7 percent, with the median price statistically flat at $226,000 and the average price declined 1.2 percent to $258,952.

I would like to continue to self-manage this property, but I am open to a management company.

This is especially important for those looking to scale their short-term rental portfolio.Property Appreciation: As short-term rentals continue to perform well, properties in popular neighborhoods are seeing strong appreciation.

This is probably the preferred situation since this tenant is likely to continue causing problems. 

We all just have to continue to be aware and educate ourselves. 

If the former PMC had specific vendor agreements, confirm their terms and see if they can continue under your management, or transition to your preferred vendors.

If they are not out yet than you will need to continue with the process, with or without an attorney.