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.  

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.

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.

After all, if your 5% down properties only double in 20 years you’ll have 40x your money.

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

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.  

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.

  $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.

So, he may be double dipping there.