I agree with Collin.The Smokies do have a lot of competition, so you need to have a view, decent location, good to great amenities etc to stand out.We have a 6-bedroom cabin there, but I imagine a 3 to 4 bedroom would be in the sweet spot of not too big or not too small.

So about 8 houses per year will do ya....but don't forget your costs of doing business AKA overhead....Very good point!

One month of vacancy will cost you $2,600 + $200 utilities.

I am just curious if you are utilizing cost segregation strategies for your investments? 

Yes we avoid custom work to help keep cost down. 

Items such as this that could be easily replaced by almost any LL at a very minimal cost, will turn into a $135 aggravation at best if you overlook it!

In one of my markets assessments are performed every 3 years, and the cost of 3rd party appeals will cost 30% of 1 year savings. 

Taxes, costs, eviction complexity, etc are going to be a much bigger factor in your success than anything else.

Hi Chris, As financing costs will be a big factor in determining profitability, you should be asking HMLs for proposals to fund. 

He told me that without installing a sump pump system (at a cost of $12k), the foundation will continue to deteriorate, which could eventually lead to bowing basement walls—an issue that could cost upwards of $50k to fix.The inspector asked if the previous homeowner disclosed any water damage.