Most of our Members are baffled, typically saying: "How could they allow one of THEIR Tenants to be even ONE month behind?"

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

Even with the balloon, this is more typical for owner finance. 

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.

A sophisticated investor will also typically ask for the entire claimed track record and then run it through the wringer.

No one will watch our money more carefully than us, and have usually had some sort of arrangement (or try to) similar to what you've proposed. 

That being said real estate investing is typically a long game and with just 2 years under your belt you’ve just started.

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

Typically, the same applies to LLCs where you and your spouse are sole members (single or multiple member LLC).

.- Maximum build size: typically 800 square feet or 50% of the size of the primary residence, whichever is smaller.