Holes update - The largest hole (4 of them in the property) is 1.5in end to end, both horizontally and vertically.

Military Presence: Fayetteville is home to Fort Bragg, one of the largest military installations in the world.

I'm considering buying a lake house for recreational purposes, and am curious what experience other investors have had in this region if we were to VRBO or AirBNB the property while we weren't using it.

Mind you, you would face the same risk should you buy any existing property in your country.You didn't mention the largest risks, which are linked to the developer and the deal.

What do you do to ensure that the tenant is responsible for security deposit disputes since that is the largest reason for owner lawsuitsHow familiar are you with the newly changed laws that can affect you the owner if they are not used correctly?

Of that 50M, 25M was allocated for the construction of a new recreational faculty that has since been completed.

With the passing and recognition of the KCR Ordinance, Chicago has become the second largest city to pass an ordinance that protects its law-abiding tenants whose buildings face foreclosure.

I love the idea of getting a small single family in an outdoor recreational area i love to spend time in where i can rent it out when im not there. but it doesnt sound like a smart business decision. what are your thoughts?

Athens and Decatur are the next step closer to Madison/Huntsville - more urban, more possible renters, and likely more potential for appreciation (I personally think Athens > Decatur for appreciation)If you want the largest renter population and appreciation potential, that's Huntsville and Madison A/B properties. 

Largest portion is the County side and most housing is newly constructed or within the last 20 years or so.