The first thing I'd recommend is focus on a market where you either 1) currently or have previously lived, 2) have family/friends that live there, or 3) travel to/vacation there frequently.

You can probably identify the builder of the subject property by contacting the City of Gatlinburg - they will have this information on file.Purely from an investment standpoint, building a cabin from scratch is by far your most expensive way to invest in the Smokies right now.

I want to be somewhat hands on so I would pick markets that are driveable for you and visit frequently. 

In my eyes, "heavy" competition is very subjective.

Are you taking this subject to existing mortgage?

He frequently works with STR investors in the Smokies  River - thanks for the referral.

But most pricing is a function of recent comps, adjusted for the subject property by size, condition of systems, and aesthetic qualities. 

I would need to learn more about my options though as my experience is limited to podcasts and a few articles on that subject. 

Rules/policies are subject to change and selling units in some buildings can be challenging.Condos, on the other hand, typically have more lenient rules/policies oftentimes allowing for unit owners to rent their apartments immediately and indefinitely.The rule flexibility, however, comes with a price.

Second best way is to review Michael Plaks' post on this subject.