For this reason, I prefer to plan renovations when a long-term tenant moves out.

Also, in a mainstream asset class like value-added multifamily, I see no reason to take a risk on a sponsor that doesn't have full real estate cycle experience or that lost anything more than a small amount of money (and prefer no money lost).

(I personally prefer $2M/year and I think that cash flow is plenty enough to cover any mortgage risk along the way, but there's no doubt some people would feel more comfortable sticking to the $24,000/year and that's totally cool too!)

You could also check what Realtors in your market are preferred agents here on BP- they should have at least a little experience with investing and a network built up. 

By adding value through renovations, design tailored to German preferences, or flexible leasing strategies, you can turn seemingly average properties into STR gold mines.3.

We have a 650 minimum , but prefer 700 

., preferably with a great outdoor space.

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

I than let them know my top choices for PM/TP provider in that specific market, not just my own but whoever I see as current best, and what there rates are.     

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