My question didn't pertain to short-term rentals as I only lease on annual leases at this location.

Quote from @Paul Azad: Quote from @Ryan Arth: A value add play that shows yields and IRR comparable with the long term S&P average... 

Cabins in the Smokies typically don't have a garage, but your point is well taken with this much space.  

I will have capital gains at the long-term rate of 15% for my first and second interests acquired, calculated as the present value the condo will sell at, minus the stepped-up value at the time I acquired each interest.B.

To make an informed selection, examine your long-term goals, overall expenses, property condition, and market competitiveness, talk with a mortgage expert, and investigate house hacking options.

It's good to put together a long-term plan, but I have never understood how someone with 0 properties is more worried about how to scale then how to build the foundation correctly.You are putting the cart before the horse.

You have a different kind of short term rental, and you are there. 

It sounds like you're saying to think longer term, to let things develop.

@Christian Orellana, not as much experience as Dave, but some.NNN leases: typically, but not always single tenant.  

We’ve been gathering information about the rental property market in Japan in terms of realistic expectations for yields, as well as a reasonable timeline for getting started and generating income to support our family.