Following - I'm based in California

A fix and flip is based on your credit, assets and most importantly the property itself. 

Based on cursory reading looks like your purchase might qualify for USDA B&I.

For instance, Rocket Mortgage mentions that a property may qualify as a second home if rented for no more than 180 days in a calendar year.

For instance, the fire we had two years ago near Pigeon Forge.  

I am also going to required annual increases in rent based on the CPI index, among a few other things.Does anyone have experience with this?

Call a local commercial real estate broker and get a Broker's Opinion of Value, or ask for current cap rates based on the Class of property.

Hi Patricia,I would recommend speaking to Realty Exchange Corp, they specialize in everything 1031 exchange and are based in Virginia.

You basically need to assign a value to all of the personal property (furniture, appliances, TVs, kitchen supplies, etc) inside the STR and they'll send you a tax bill based on the total. 

Based on what I have heard there are two tests we have to pass in order to be qualified as a contractor.