Are they worth the additional risk? 

I would suggest you go on airbnb and look at homes that sleep 15 or more and look at some of what people have done with these homes to get an idea of what it takes, then look at their calendar, you'll see that they do well. 

If you want to manage it yourself, I'd suggest buying close to where you live.

It's our goal now to start purchasing additional buy and hold properties, but still consider ourselves newbies when it comes to investing. 

@Kyle Pierrehumbert in addition to checking out the Zillow suggested rent, what comparison did you do between your property and nearby competition?

If they go out I can raise rents to still below market a little for a good deal to a tenant but after my lease up expenses still have additional equity and value to show for it.I shake my head at buyers buying Popeyes with some small franchisee that is 6.2 cap rate versus national grade credit at 5.9 cap and that Popeyes paying market rent.

It's a B- class neighborhood.Apparently there is some dog pee odor and some bad scratches in 2 of the 3 bedrooms and water damaged next to the kitchen (which is tile).The bamboo flooring flows through all the rest of the house except the bathrooms and kitchens.Would would you suggest?

Additionally, I aim to build my network and finding other investors, property managers, agents, and wholesalers in middle Tennessee or other areas in which I might one day invest.

So if any suggestions on going about that aspect would be helpful!

A PMC has only two choices for GL coverage:1) Require the owner to have the GL coverage and be added as, "Additionally Insured".