Is it based on town zoning? 

I have lived here for over 30 years and am a licensed broker here, as well as having all of my rentals here in town, and would consider myself an expert on this market.Don't listen to anyone lumping JC in with Watauga Lake or Roan Mountain.

Find one in your  town certified since 2007 http://proadvisor.intuit.com/search/index-standalo...  

or depending on budget, are you looking for more of town home?

Again, expect higher prices than your initial targets.Smaller Cities: Don't completely overlook smaller cities or towns with strong local economies (e.g., a strong university or a growing industry).

They all said the original contractor’s work had been fine—even the tiling was far better than what the 2ndcontractor did as a redo.I heard later that Joey, the 2nd contractor was spreading it around town the reason he hadn’t finished my job was because I was slowing things down by changing everything and, also, that I owed him a lot of money.

I would also check tech hubs cities that accept those currencies around town.

My 17-year-old daughter is still in high school, but she saved up $20,000 in 14 months as a waitress in a town of 10,000.

If you've already reached that end - ie if $4 million is enough principal to create residual income that you won't outlive - then I don't see any good reason to be buying out-of-town properties that then have to be managed properly to preserve your investment. 

The house has 5 units; however, it is only zoned by the town as a 4-family.