I personally invest here for both the cash flow and appreciation.

Property is rented and cash flowing nicely.

Mostly C to C- neighborhoods that get good cash flow and are still in pretty solid neighborhoods.  

The cost of entry is low, and cash flow is high.

Complications:-The condo would not cash flow if rented out.

The process is to flip the cash (you don't flip properties, you flip cash...and make no mistake,...the property isn't the true asset, you cash is) through SFH as described above, then build your cash to roll it into the NNN for the long hall.You have to have a plan, and that plan must be based on numbers with $$$ in front. 

I’ll run airdna projection and underwrite at current rates to see if cash flow positive.

This allows you increase your cash flow now to invest in more properties, pay down debt, perform renovations, etc. 

This implies our unit’s cash flow is below if it were an LTR because 1) we pay utilities 2) we furnish the unit 3) we pay MTR  PM fees which is near double the LTR rate. 

totally hear you, pre 2021 in knoxville was a totally different ball game. again depending on your goals and strategies, your expectations aren't unrealistic. some deals may require more of an investment to make the numbers work like one of my student rentals that was a full gut project and took nearly a year to complete yet it spits out 15% cash on cash returns annually and i purchased that late 2022. investing in general is a risky endeavor, it's all relative to ones own risk tolerance depending on their position. we try and make calculated risks and look to evaluate multiple exits before pulling the trigger, yet there is still some risk involved. maybe a reit or syndication is the way to go if you want to be in real estate yet don't want to take on the properties yourself. either way i'm happy to make some local connections.