Revenue potential for cost and potential STR regulations will be prioritized over a long distance value add.  

If your unlucky enough to invest in these areas your “wait” for a rebound might be quite a long time - or forever.  2 - Governmental Regulation  - Rent control, rental use regulations, property taxes, zoning, etc.

It's been my thought that the most appropriate luxury for a vacation home in Gatlinburg is a Gatlin gun. 

Happy tenants are more likely to renew leases, reducing turnover costs and vacancies.Legal Compliance: Property managers ensure compliance with local, state, and federal laws, including regulations on rent control, fair housing, tenant rights, and eviction procedures.

Without a VERY good and valid reason, it may be fraud.You may want to get an attorney involved and/or the appropriate state board.

Then you go find the appropriate professional.

I’ve done some research on the local regulations and the market, but would appreciate more insights before moving forward. - Is Big Bear Lake still a profitable Airbnb market in 2024?

Would it be helpful to you as a landlord have have not only the day to day automated but also have guidelines and quick access to local regulations (where there is constant change) in your assets markets to help you stay compliant and avoid potential lawsuits/fines?  

Traditional lender is most appropriate (not hard money). 

Crime is a concern, but I'm thinking with the appropriate limited liability and insurance structure this could provide a reasonable shield.