He abandoned trying to scale.Learning from this experience when my partner and I decided we wanted to double our net income, we realized it would take a increase of 2 1/2 time our volume and probably need to triple our deal flow.  

Once you are on site you can decide if your $20K should be used as a downpayment on a double to house hack (to stop renting), a single to just stop renting, or a single to lease out.

I can see how Gatlinburg/Sevierville/Pigeon Forge has an oversupply (even though SMNP receives the most annual visitors per year of any national park and double that of the #2 NP)… though, from what we’ve watched in the last year and gathered from our realtor in Knox, both Knoxville and Chattanooga homes are still going for over asking price which would indicate an under supply, no? 

Today my rate differential would be a doubling of rates so my LTV may be at all time low.  

Expect rates for both to be double digits.If a cash out refi makes sense for your situation, you may be able to go up to 80% LTV to access more equity.

If i use 2.5% long term CPI and 75% LTV, the return from appreciation on a new purchase would be 10% or double your current return on that equity.  

  $200/month divides into the $100K initial negative equals 500 months to recover the initial negative equity.Let's double the cash flow to $400/month.  250 months to recover the initial negative equity so over 20 years.Let's reduce the negative equity position to $50K (which likely is less realistic than expecting $400/month cash flow at that rent point), you are at over 10 years to recover the initial equity position.Now let's do it with all cash, no financing.The 50% rule state $900/month cash flow.  900 * 12/200K = $5.4% or about half of lifetime return of S&P 500, or what can almost be achieved with a zero work, zero risk CD.I see no way that someone who understands the numbers will call this a good investment.Note just because an investment is better than most other investments in a market does not imply something is a good investment. 

Really cheap to aquire and almost doubles in value after he uses the bobcat to level it out....

If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

  $36k - $16k = $20k or $1,600 per month net income left to cover all other expenses...same as above.Median household income in the US is over $80k or more than double these two zip codes.