There are tons of threads here on BiggerPockets where you have a new investor bashing a property manager, seller or turnkey guy and then when the experienced investors chime in it becomes very clear that the new investor wasn't telling the whole story and there typically wasn't any wrongdoing by the property manager, seller, turnkey guy or what have you.

The equity gap can definitely be a challenge but there are still deals out there - typically with homes that were purchased in early 2022. 

Typically, RS3 permits SFHs and two-flats, by right.

This is not uncommon and actual more typical as it is based on sales price and even though the first appraisal was $130k the new one gets reset based on its recent sale and home prices are not up 10% over a few months.You are going to have a hard time getting a lender to use other comps compared to this home as it recently sold.

. - Production: Typically STR production on the Oregon Coast is +/- 10% of valuation.

It generally isn't worth the brain damage of experimenting though....especially if you want to move to a new home that you will own inside of the typical lender's seasoning period.

I am planning to get into the TN real estate market as my first investment and am looking for some information.In particular: Areas to steer clear of, property management fees, typical cosmetic rehab costs, etc.My strategy is to put large down payments on 2 properties (relative to housing prices) to help pay for my living in NY while still gaining appreciation in a growing real estate market.

These properties typically do not have rent growth that keeps up with inflation.  

So while that’s a great asset you pay more for it typically.

I typically host single family homes, but have been asked to potentially host an apartment complex of 22 units.