Proximity to Nashville is key—properties within 5-15 minutes of the city tend to attract more guests, but a nicer home 20-30 minutes away could provide more value in the long run.Make sure to research short-term rental rates in both areas to determine which offers the best return.

Also, before you buy another property you'll want to determine your ideal next property - meaning, will it be a "rent ready" house, a major renovation project, or somewhere in between.

How would I determine which is best for me?

You will need to determine the level you participate in your investment as well it makes a big difference. 

Determine Your BudgetSet a Realistic Budget: Consider the cost of tuition, living expenses, and your financial situation.Mortgage vs.

Determining whether to do a cost segregation study or not has a lot variables.

Similarly, the sale ($575K) minus your adjusted basis determines your capital gain.You may qualify for the primary residence exclusion (up to $250K single/$500K married) if you lived there 2 of the last 5 years.

Did you run a DSCR calculation to determine cashflow?

Keep learning and determine your long term goals.

The scope of work, quality needed, location etc will determine the cost.