Some people seem to get locked in to one place they find, or a place a friend or family member is selling without really evaluating the available market.In a small town in East Texas I would think your biggest risk is a big player coming to town that can absolutely crush a smaller player. 

The tough part about New Jersey is that it is very competitive and very tight on inventory right now.

Quote from @Chris Primavera: @Nick Velez thanks for the info and I have heard that the Gatlinburg area isn't necessarily a great market for your first investment because of the competition and amenities. 

We segregated them from any degree of competition, failure or necessity to conform to any standard.

That unit with the waitlist is the only pet-friendly home (duplex) with a fully fenced-in yard accepting more than 1 pet, including larger animals. 

Unless you have boots on the ground there (friend or family, not the agent), it will be very hard to manage.

Once you have a good understanding of what you can afford, reach out to your landlord in a friendly and casual way.

There might be larger buildings available but I don’t follow that market too much through the MLS, only some NH Landlord Facebook groups which are both owner friendly and agent friendly.

Quote from @Mathew Chacko: Hi friends, did anyone end up using e1031xchange ?

As for competition.