Also common areas that need maintenance, lighting, that will be on your bill.- Inspectors: definitely make sure everything is to code.

Pretty sure she is referring to The Island in Pigeon Forge just off the Parkway near Light #3 (between the Parkway and Teaster). https://islandinpigeonforge.com/

Second, leave alternating lights on at night. 

Can anyone shed some light on this for me?

Pristine properties and even light cosmetic rehabs don't work anymore.Hope this helps - happy to talk BRRRR or anything else you want

This scratches the surface, but i hope it provides some light.

Appliances and fixtures were old and tired.Basically, the core bones of the property were good, but there were a lot of things that seemed ripe for easy improvement.The location was great, right next to the town’s primary commercial district, with a grocery store 100 yards away, coffee shop/bakery, Post Office, drugstore, hardware store, hair and nail salons, barber shop, dentist, bank, a half dozen restaurants, and a variety of other shops and services.

They used to issue glossy brochures as inserts to real estate magazines, which were actually very light on articles and very heavy on insert ads.  

If it is less than 3 you are doing it wrong.Also, you should think about doing a light renovation and increasing rents.

I'd suggest buying a turn-key or light rehab as your first investment.