I will tell you though that one of the banks biggest fears is going under deposit and it not closing, so if they think one offer may have a high likelihood of falling apart, they might be able to justify that it's better to take the definite cash deal now (if the numbers are close).If you want this edge, be sure to make an all around SOLID Offer:- 10% Deposit- Proof of Funds- No Mortgage Contingency- No Inspections- Close before the end of the month.If the offers are very close, with these terms you might have a chance .. but if your $5-10k+ less than the 203k Rehab Loan, they will probably take the rehab loan.Also keep in mind that in most cases the banks do not care if you have inspections, or a mortgage contingency. 

The 2nd a d biggest mistake is that that 2nd Parcel is on the other side of a huge wash or creek.

That would be my biggest hurtle is finding contractors since I am not networked yet.

Do an internet search of things to ask a contractor.Hope that helps.

A study just showed that Asheville is the 6th biggest airbnb market in the US too. 6) Another good point...That aspect does seem like a lofty goal.

That quick closing can be one of the biggest game changers out there!

@Bob Prisco the biggest issues in this part of the country... taxes.

Hello, I'm a mental health counselor in private practice, and my office rent is my biggest expense category across all personal and business expenses. 

Here are the inputs:Purchase Price: $400-450K per propertyDownpayment + Closing Costs: $90-100K per propertyMortgage Payment: $2,000 - $2,200/month assuming $2K/year taxes and $1.5K/year insuranceTotal Monthly Rental Income renting out all the rooms (6 bedrooms x $700 rent per room on avg): $4,200Total Monthly Rental Income renting out all the top rooms (3 x 700) and renting the bottom unit to a family ($1,700): $3,800Total Net Rental Income Before Utilities/Maintenance/Reserves/Capex:  Low: $1,600, High: $2,000Utilities: ~$400 assuming that you pay for everything, internet, heat, electric, gas, water, storm drainageMaintenance/Reserves/Capex: $400 to have enough to cover any items that could need repair, maintenance, etc and accounting for age of house and more wear and tear Total Net Cash Flow Per Month: Low: $800/month High: $1,200/month, Middle: $1,000/monthAlso, I didn't include you adding any extra rental income for for adding utilities to rent/garage spots rent/etc, so these cash flow numbers are very conservative but realistic. 

@Jake Burgdorf Newbie here but I'd say the biggest things are educating yourself (Bigger Pockets, YouTube, Books, etc.), practicing analyzing deals (daily), start looking at building a team, and raising the funds for your future property.