When you deny an applicant, you need to have solid footing to do so.

Personally, I think Westville is in the best position for appreciation, while rents are already solid and climbing. 

1,769 miles. managing everything on my own too. i think living far away is actually a blessing. it forces you to have rock solid systems in place!

That was the main reason I wanted to reach out to the good folks like you here willing to offer some advice.I've actually been a landlord before, and although it has its headaches, I'm still convinced that it's a great way to ensure a solid retirement.Thanks much

Having a solid foundation is key, adding significant value to every deal allows you to grow,  I would say with your $50K go out and do a rehab and make $30K on a flip so you can add $20K to your $50K  ($10K set aside for taxes) do it a few times so you have a great launching pad and rehab experience for the rentals. dont buy turn key rentals, always buy below value, and push the equity with a rehab, and right now in the market cycle, only buy great deals, marginal deals will burn you when this market changes.

Memphis has been a really solid area (some say even recession-proof), but you're in striking distance of a Alabama and other great opportunities...and short-term rentals in Nashville are doing well for some people I know. 

If you determine all the competing parks are similar to the subject park, with high vacancy & POH, and your test ads do not receive any evidence of demand, then you'll want to punt on the deal. 

Geoff,Your numbers look good, just a couple of items which can go south and it’s best to be prepared; are your construction numbers solid - do you have written bids from contractors?  

Id say that area is a solid B-..  

I would also send mail to non-owner occupiers, who are also, -behind on taxes - past due HOA -or behind on water billsI would also look into different software services like call rail to track your calls and kpi’s For marketing campaigns along with a solid crm.