I am planning to get into the TN real estate market as my first investment and am looking for some information.In particular: Areas to steer clear of, property management fees, typical cosmetic rehab costs, etc.My strategy is to put large down payments on 2 properties (relative to housing prices) to help pay for my living in NY while still gaining appreciation in a growing real estate market.

Build up your portfolio with a professional landlord and then as your portfolio grows transfer the assets over to a larger PM firm for ongoing accounting and management. 

There is strong macroeconomics because of the growing population, job market, and the major companies moving and developing here.

That's the nature of disruptive technology I suppose.And I don't think the actual amount of the transaction is really relevant so I wouldn't say you are outclassed.

Haha, not sure about the veracity of some of those comments, but I tend to be skeptical by nature anyway.

., a strong university or a growing industry).

If you want to grow a portfolio, the math is clear, you must sell to Pyramid UP. $250mnth is not good performance.

I am 100% ok with my w2 providing me income to maintain my life and grow a nest egg for the later aspect of life  

If there is any kind of damage to the house because of a natural cause if you approach the insurance company without a landlord's insurance they will outright deny your claim.If you have a mortgage the bank will insist that you have landlord insuranceTenant has renter's insurance.

Or you can just put it all into the reserve account, growing that to buy your next property and/or for future capex or vacancy/unit make-ready expenses.