Smoky Mountains seems to be a solid choice but I wonder about oversaturation and competition in that area?  

For reference, Dallas will show something like 26% chance of high winds (3 seconds with wind speeds above 50 MPH) in the next 30 years, for most available properties. 

Is one a clear choice and I am having trouble seeing it?

When I'm figuring out how to price an Airbnb I always cross-reference AirDNA or PriceLabs to get an estimate on what the income would be.

BPOs are typically exterior only and agents usually earn $30 - 50 to complete them, so use them as a reference but not the deciding factor.                                                                                                                                                                     

The best references I could find would be from the Federal Reserve Banks themselves. 

$280k home for $2,500 rent is a personal choice.

For reference personal rez is 3K sq ft. 

Avoiding the occupants from squatting is best addressed with background checks, employment verifications, and references before signing the lease.

Here is a recommendation I have for you as you begin to figure out what area you want to invest in.This website is a great reference point for figuring out what each area is like. https://www.areavibes.com/It gives you a total LIVABILITY score for each street and zip code & discusses crime rate, schoolsUse this rating and classification system I have created over time to get an idea of the "Class" for the area - A class B class & so onHere is my rating & classification for each livability score.80 and above A+78/79 A76/77 A-74/75 B+72/73 B70/71 B-68/69 C+66/67 C64/65 C-60/63 D59 and below FBest of luck and let me know if I can help answer any questions!