You may want to hire an interior designer though and go all out if you're going that route.I own a 2 acre lot with a view just outside of Pigeon Forge.

I am born and rasied in the Cleveland area and own rentals here.

Eg if owning a house for the mortgage, insurance and taxes alone would cost you over $3000 a month (mortgage alone on a 25 year amortization for $500K is $3000 a month, goes down to $2700 on a 30 yr mortgage). 

The plan here is to have a local (RV Certified) tiny home builder do the marketing to attract buyers that want to buy their tiny homes (cash or 25 year financing) and live in this park, until there are 44 pads occupied by tenant-owned tiny homes, paying $750/mo lot rent, on 1 year leases.

A consistent, own time tenant is a valuable thing and worth accommodating most of the time and a goof landlord or property management firm knows how to walk that line.

When you have a lease you do not own the property.

Worked with an investor friendly agent in Phoenix who knew the market very well and was managing his own properties.

It depends on one's financial strength, the quality of the property, how many properties they own, and other factors.I like to start with one significant expense and three months of vacancy.

Have your own FICO score pulled and be prepared to take notes. 

Neither of us own a home or have any experience in real estate so I have been looking into BRRRR or house hacking either a duplex or a triplex in the Cleveland area.