These tend to have the best ROI when compared to other investments such as office space, warehouse, retail, etc.

The title costs will be minimal compared to the headache you will go through if you missed a lien or some other encumbrance, missed the required margin requirement on the deed, etc.  

Even their website and portal is high school quality compared to other firms. 

Less than a 2 hour drive from SF and the barrier to entry (a.k.a. price) is much more approachable for someone starting in the business compared to the Bay Area or along the coast of CA.

However, when compared to Kansas City, Memphis, or Ft Meyers, Knoxville is still a small market.

With that in hand, you can compare similar existing units and determine rent comparisons to have a credible feasibility plan for your lender.

I know appreciation can be a gamble, as compared to cash flow. 

I know appreciation can be a gamble, as compared to cash flow.

Forget demolition costs - that's pennies compared to everything else!  

I tend to use the worksheet to find my magic number for the property and either watch until it comes down or compare the final sales price to what I needed the number to be and wonder if the new owner is making any money.