lots of options depending on your goals. i focus primarily in knoxville with long term holds and a few flips. my long term holds are focused in 37921 and 37912 zip codes and focus on long term tenants and student rentals. oak ridge has a great upside for long term renting as well as mid term with the lab and all the contract labor that goes in and out of there. happy to pass out some references if needed. 

It is not a solution for long term.

All the "what ifs" that go into rent collection can typically be managed with an online rent payment software, but if a tenant misses a payment, you will still have to figure out what happened.Lease EnforcementYou will be responsible for making sure your renters follow the lease terms.

They may try to frame it in other terms because, hey who wants to admit that they're cheap and lazy?

Most work this way Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)Max Loan: 65%-70% of After Repair Value(ARV)100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

I would highly recommend placing a tenant on a lease under 12 months for their first term so this bill does not apply to them.

Since we are total amateurs, we don't which way is better (either get a property for short term or invest that extra cash .Any help will be appreciated!

Long term holds (BRRRR), wholesale or fix and flip (money today), vacation rentals?

Strategic geographical positioning near major Midwest cities further amplifies Toledo's appeal, offering investors significant ROI potential through both immediate flips and long-term rental strategies.

If you are raising the rent I'd make sure its cut and dry and is at the end of their lease term, I wouldn't trust that notarization tid bit you got from someone else, if the lease is signed and executed its likely valid through the full term.