SFRs and MFRs near the Smokies are a hidden value b/c everyone buys cabins but forgets about the folks who live there and need a quality 2BR/2BA rental. 

Tenants category B- to C+ 2nd floor details: 3 rooms + 1 bathroom + Attic.

Victor,Before you start calling around I would recommend gathering some info:1. is there knob & tube or aluminum wiring2. when were the systems updated and was it full or partial updates: - Roof - Electrical - Plumbuing - Heating For the Electric a) are there circuit breakers or fuses b) what amp service For Plumbing a) any pex piping.

As long as you have a plan A, B, C on everything, I would be comfortable buying in any market.

Here's how I do my due diligence:1) Portfolio matching: (takes 30 seconds per deal)a) Have an educated opinion on where you think we are in the real estate cycles (financial and physical market cycles)b) Then only then pick the strategies, capital stack, and specialized asset subclasses that make sense for that opinion.

The locations in the city I'm interested in are Grandview, Raytown, Independence or any other solid B and C+ areas 

The locations in the city I'm interested in are Grandview, Raytown, Independence or any other solid B and C+ areas

Should I A) Sell everything inside that I don't want and use the proceeds to rehab and rent out or sell, B) Sell as is and use that money to buy into another property with a loan from bank or lender, C) Neither, and just sell everything I don't want and use it as my residence. 

@John Sherwood you don't give many details about the area of the country this is in, but if this is in a good area (B class), and if your numbers include property management then this doesn't sound too bad on the surface.

I just chose this b/c of a meetup, and it's close enough that I can actually see the area and homes on weekends.