Then I could see that giving away some profit in the deal could make sense, but that would be an uncommon case I think.

Also, you should only be looking for cash buyers so financing contingencies should not be an issue. 

If you are not touching mechanicals then there won't be an inspection until you go to sell or refi to put a renter in there. 

Florida would be an exception because it's much lower crime, low taxes, business friendly, Landlord friendly, etc.

This will be an investment property, I don't know much about a DSCR loan but I'll consider it while I shop around for a lender. 

I would send an mail to the owner's address to invite him to make the deal.Owner's finance probably won't be an option in this case.

I pay off principle of the mortgage around 13-14K a year and expect it to be an amazing long-term, cash flowing rental.

It was going to be an owner occupied and the building has had 3 price drops already from 2.5mil to 1.8mil.

Personally, I'm looking into starting a "newbie" consulting business and this would be an opportunity to work on structuring that, while getting valuable feedback from someone like yourself!

I don't know the Smokies well enough to have an educated opinion, but my thought is it may be an even better idea than carts at the beach.