I can also allow a tenant to grow with me - just moved a family from a two bedroom to a three bedroom apartment.Personally the only reasons I would choose to invest in multiple markets is a) because I wanted an excuse to go somewhere regularly or b) for economic/geographic diversity.I had the advantage that my home market was good.

Also will be adding two ADUs in the back to turn the whole place into a 4 unit rental.

I'm looking for some advice/insight on HOA management in the Pigeon Forge/Gaitlinburg area.A little background--I'm the owner of two new construction cabins in a 10-unit PUD in downtown Pigeon Forge. 

Doing two properties?

I was forced into hiring an electrician and plumber, the two things i was best at doing. 

It’s easy to want to jump into big deals right away, but starting with one or two smaller properties lets you learn the basics of real estate investing without getting overwhelmed.

But, a fair deal and a good deal are two different things.

Sold two STR in 32137 this past fall.  

I mean I highly doubt( but sure there will be other who say otherwise just because) you will find a very good investment property listed on MLS or other publically available service.On a side note if I did have aprroximatley 400k equity in two of my homes could I use any of that to invest in another property?

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.While the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall loss.