We bought recliners, table and chairs, offer high-speed wifi, and carpeted a play area for kids.

Vacation rentals will need to be furnished so you need to incorporate that into your purchase costs as well. 

Sit in every single chair and see if there is a wobble and if it needs to be tightened up, check the exterior of the cabin, are there signs of carpenter bees, check my windows, any leaks, etc. - you get the idea

I met an agent this side of Knoxville, and she said,She was selling homes in Gatlinburg,I climbed up in my chair all warm, nice and cozy,Thought I'd soon be hearing from her...But tears filled my eyes when I found out she was gone, Smoky Mountain rain, I keep on call'n, keep on call'n, her nameSmoky Mountain rain, it keeps fall'n, I keep on call'n.But she's somewhere in the Smoky Mountain rain."

My first STR was a disaster- I had people throwing 20+ people parties in the small 1B1B  apartment, someone had  female issues on my light blue kitchen chair and the cops were called multiple times. but I LOVED it, made money and would do it all over.

And they have a nationwide footprint and huge head start in corporate marketing. 

Just like a lot of corporations are incorporated in Delaware.

The issue though is being able to utilize pre-existing properties to incorporate the affordable housing aspect into this.

In fact, the one dirtbag was actually sitting in the yard in a chair under a tree smoking a cigarette and listening to music as if he had not one care in the world.

I have been working in corporate America for 20 yrs and investing in real estate at the same time.