That land is directly in the path of growth with many local farmers in the area selling their land to developers putting in high density housing. 

I see that property prices remain relatively high but there is some softening.

You'll pay high interest, which offsets the interest you earn on a new investment.

DSCR Loans: What Are They And How To Get The Best Termshttps://www.biggerpockets.com/...DSCR Loans: How To Use Pro Strategies To Save More And Make Morehttps://www.biggerpockets.com/...Multifamily DSCR Loans: A New High-Impact Loan Option For Real Estate Investors?

Also, with 5-6 bedroom homes you have a greater opportunity to make it stand out with the theming, as many of the HIGHLY themed homes are  8, 9, BR and larger homes.The key to making the home unique is theming, but not just any theming.

If a tenant is regularly late on payments, there is a very high probability that they will eventually stop paying or violate the lease in other ways that cost you far more than the late fees you see as "extra income."

Given the high demand for LTRs in your area and Mountain City's tourist allure, a hybrid approach may be beneficial.

The risk is very high when you are brand spanking new and you will definitely need to go through some transactions to get an idea of what you are doing. 

We own our primary, own a STR internationally, 3 commercial buildings, and a 4-unit apartment building - so we are highly familiar with real estate but here's a new conundrum.

I also have 11 other LTR doors in the city (also do extremely well).If you have a high capacity to save more capital you could do BRRRR's in Detroit.