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You'll pay high interest, which offsets the interest you earn on a new investment.

Given the high demand for LTRs in your area and Mountain City's tourist allure, a hybrid approach may be beneficial.

I see that property prices remain relatively high but there is some softening.

Ask them if they own STRs in the areas you are interested in or have access to actual performance data in that area through a property manager or cohost

If a tenant is regularly late on payments, there is a very high probability that they will eventually stop paying or violate the lease in other ways that cost you far more than the late fees you see as "extra income."

I’m a 17 year old high school junior south of the Tampa, FL.

The risk is very high when you are brand spanking new and you will definitely need to go through some transactions to get an idea of what you are doing. 

They find the reporting useful month to month to see how their properties are performing but also everything is done come tax time. 

@Chelsie Hall In order to utilize cost segregation in your depreciation calculation, you would need to have a cost segregation study performed.