Over 1,100 active listings in Sevier County.Realtor.com shows over 2000 active listings in sevier county (excluding under contract) 

If of course, your life and personal situation complies :) I have done this for three years now.For this thought exercise, let's assume the RE professional requirement has been met, and that the net rental income (excluding depreciation) equals $0.Isn't 100K of gross taxable income less 30K of depreciation equal to 70K of taxable income (i.e., 100K-30K=70K)? 

If that boosts occupancy substantially and reduces turnover(each turnover there costs about $3k-$4k in legal, cleaning, painting, lost rent, etc, and that’s excluding the 2 months that the deadbeat got in free rent- so it’s probably closer to $4k-$5k) then I’ll have made a very wise decision.

Lets say the interior walls are another 80 linear feet on each level than I'm at 400 linear feet total for walls(this doesn't exclude doors and windows so that should give me enough surplus for the job)  Since they are standard 8 foot walls that means I'm looking at 3200 square feet to cover the walls (400 x 8 =3200)Then the ceiling on both levels is another 900 square feet each (each being 30x30 in this simplified example) which means that's another 1800 square feet for the ceilingTotaling 5000 square feet for drywall and insulation.

You can also find deals in a variety of areas that work for pretty much any kind of real estate investing (though becoming harder to find flips and BRRRR has been tough pretty much all over the nation and pittsburgh is not excluded.)

Mike, unfortunately, the statute only applies to owner occupants, there's some other clause the inspector cited stating it excludes non-owner occupants.

HOA fees will crash your model, so you are right in excluding them BUT MOST luxury single family real estate is in a HOA, so there's that.To cash flow you need to put 30 -40% down payment with today's interest rates.A $1200000 house in Laguna Niguel the PITI with 20% down is $8840 plus HOA of $200- $500 Rents for this house, as has ocean view is $7200.I know a house that is not on the market and owner could rent back BUT you will not make the return on investment you plan with 8% 30 year rates. 

My home inspector specifically excluded checking for structural cracks, damage, etc UNDER tenant belongings including area rugs in the garage.

The main reason you would want an LLC is in the chance that a lawsuit (in your personal life or regarding your investments) would either exceed or be excluded from your insurance policy.

I don't see anything on the lease that would exclude a SFH.