I removed our debt (P&I) all other expenses have been factored.

That said, if you have $50k and want to invest out of state, that puts your realistic budget at $150-175k...maybe even a bit less after you factor in closing costs, make ready expenses, and reserves.

Does that factor in both the mortgage, taxes and maintenance? 

That should really be the deciding factor...is it necessary and a large enough project to include the permit process?

Sapphire is much more of a vacation home community.The deciding factor for me was that Sapphire and Cashiers don't have a lot to do, except for golf and hiking.

Financing is important but your realtor will absolutely be the determining factor whether you purchase correctly or not. 

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

This will help you understand the qualifying requirements, key factors to consider when purchasing, and how to assess whether a property might be a good investment at first glance.

Tenant providing access is ideal.

Is it fairly priced for the size, location, quality, and other factors?