While competition hadn't changed dramatically, we noticed some of the competition had pushed up rents on other 3 and 4 BRs in the area.  

Regionality and competition greatly factors into the cost structure.

That applies to replacement cost only and only if more $ is needed to restore the home to a pre-loss condition than what is available under coverage A.

Encore, you would need a membership, if you purchase in the new phase (Spectrum ) they automatically come with the amenities (membership) included to your guests, but the HOA and management have other restrictions and all units come furnished with the same packages, so you can't make changes to have it stand out, which is what is really needed hear in Orlando since there is so much competition. 

However right now it is VERY competitive in the tax lien market so it is going to be very hard to find something good.

Since few lenders have the stomach to do this, it’s also been a great competitive advantage for our business.This horrifies almost every private lender I know.

There are conditions that must be met.Also, I believe the taxes are higher in Richland County than Lexington County, but I don't like there, so I don't have personal experience with that.

With markets adapting to changing economic conditions, now is the time to explore innovative investment strategies.

Appreciation, maintenance, neighborhood, eviction rate, proximity, condition, etc.

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.