We are in the north east where it’s very expensive right now and have done some research on other markets.

I live in the house for one year either for free or with reduced living expenses.

Pros: - Low upfront cost- Very high profitability (we average 23k per deal of profit) and the ROI is AMAZING- Sustainability - so many land owners out there don't want their landCons- Can take 4-6 months or so to see results- Marketing is expensive, we send mail to acquire properties.

Assuming this is an investment property, keeping track of your expenses and income in a separate bank account (not personal) and ideally holding the property in an LLC 

Nashville has grown and gotten more expensive for sure, but as it expands, new areas will prove to be great investments as well.

At a rate of roughly 7.25, they'd likely only make about 7k a year net after everything (property management, expenses, etc). 

What's a fair amount, well that depends on what this is actually costing you in terms of actual expenses plus the time and hassle involved.

@Lily Rodriguez your profile says you're a real estate broker, if that's the case I'm shocked that you post on Zillow and not on the MLS for 2 reasons, one according to the association  rules you're required to list all your properties on the MLS (assuming you joined a association) second Zillow is not our friend, Zillow competes with us and tries to push clients to their Premier agents costing the listing agent half a month rent.Quote from @Lily Rodriguez: Marcus,If you want more exposure you can list it on the MLS, and you will have to pay a fee to the agent that brings you the tenant then you will have to do a credit check and background check yourself for each applicant however for my clients I prefer to list it on Zillow rentals only, because I can manage the applications directly from there and the prospective tenant only pays $35 application fee once and can apply for different properties with the same application fee.

Have never done this before and will need to start getting up to speed on what all is required to get on vrbo and Airbnb, any local city requirements for this type of use.Thanks again

A cash deposit of $10,000 was required,, then a $300 a month payment till it was paid in full.