@Jon Thomson You didn’t mention what your current mortgage rate was but no sense paying down or paying off a low rate mortgage just to then borrow from the same property at a much higher rate.

HOA fees are rough for borrowing on investment properties in this interest rate environment too.

Looking to get into my first STR in the next few months out in the Knoxville/Oak Ridge/Gatlinburg area(s)....I understand getting average daily rates, occupany rates, mortgage, saving for maintenance/CapEx.

From what I quickly read in the link above, seems like you just need to have a bank account that is govt insured and earning interest, doesnt have to have the tenants name on it, but you need to inform the tenant of account and rate the account is receiving. 

These situations often require immediate attention that might not align with your available hours due to the time difference.Regarding property management fees, these can vary widely and you might find that the rates are more reasonable than expected.

So if they pay more it is not that they pay over market rate.

It requires the borrower has significant experience and is very costly (in terms of rates/origination)It's generally really risky to do 100% financing especially if you are inexperienced.

So the point of this is that what often occurs is that in the year that you close on your purchase you start out at the seller's old property tax rate.  

Cap rates are pretty useless.

It is tough to "perfect BRRRR" here with consistency or anywhere for that matter with today's rate and insurance costs.