I like new homes in up and coming neighborhoods because there usually are fewer maintenance issues and can you usually get higher than market rent.

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? 

If 85% of the units you are looking renting for around the same rate, surely that is a good indication of market rent.

At this point I know their income is sufficient, they have indicated they dont have a criminal issue, bankruptcies, and evictions. 4.

It's important to find out.But for now, let's assume that the property is worth $63 million as @Jason Piccolo indicated above and the loan balance is $59.8 million. 

." - which to me indicates the same doubts that I have about the legality of the IRS position.Until the IRS is challenged in court over this position and loses, I choose to comply with their position.

All indications here are of a pretty healthy market. 

A tenant complaining online might indicate that the property manager handled them appropriately, so be sure to ask the manager for their side of the story.7.

Izraul, you never indicated where the cash for the "loan" may have originated. 

While those inquiries might not result in tenants, they can still show the property is appealing and could be an indicator of future traction.The listing itself looks great.