Contrary to popular borrower belief, the mortgage business is actually more about people than numbers. In the beginning it might be all fun and games with X's & O's and spreadsheets of mortgage quote comparisons b...

In this case, rates don't matter as much as lower closing costs, since it would be short-term.  

@Daniel Purcell I have a 3-plex uptown that is zoned HU-MU my understanding is that I can rent 1 out through short term rentals even without a Homestead excemption.

Also, probably I'd have to fly out to KC a few times until I buy the property to meet the team, potential properties, etc which will add to the costs (~$600-$800 each trip) of owning an OOS property.Given this market, I'd like to hear from OOS investors if they think it's still doable to pull off an purchase worth investing in.I don't want to talk myself out of it again and focus on the negatives but also, want to make a sound decision that benefits me in the long term and doesn't hurt [much] in the short term.

If under normal circumstances, when the loan is complete, the remaining funds (typically just the 10%-15% contingency) go towards principal curtailment.  

I've thought of many different angels, but still not sure why this project was special/different or offering different terms.   

There are people still moving to TN, which will continue to push pricing up, and while most of the country has seen rents either flatten or go down, most of these markets have done pretty good.Problem is in the short term it may  cause an affordability problem, especially in the smaller markets that don't have enough building.

You evict them if they are not following the terms of their lease/rental agreement.Find out what the caps are on rent increases (if there are any). 

Also, I'd think about the long-term potential for appreciation and the health of the neighborhood.All in all, I think it's great that you're at a position where you can seriously consider investing and wish you the best of luck either way you go!

If you're looking to invest long term and build a portfolio, I'd recommend going with a 2-4 unit and take advantage of the VA financing.