----------------------------------------------------------------------Property type - 2 duplexesFannie Mae REOPurchase price $369,000 (includes $40k renovation)Financing - FHA 203(k)Down payment - $8559Out of pocket renovation - $20,000Rebate - $1500Final out of pocket - $27059Here's the monthly cash flow -Duplex 1PITI - $1467.50Unit A rent - $1100 (below market - this is a family member)Unit B rent - $125015% vacancy/maintenance reserve - $352.50Net income - $530Duplex 2PITI - $1467.50Unit C - owner occupiedUnit D - 20% personal use, 80% vacation rental - $1500 (average)15% vacancy/maintenance reserve - $225Additional VR expense - $450Monthly loss - $642 <--- Not quite living for free, but not bad...and my in-laws have their own apartment when they visit!

Assuming you are in some kind of STR market, there HAS to be property managers or VR services in the area. 

Also, looking for a investor friendly real estate agent that doesn't have a problem with sending in below market offers. v/r,Dom

Does anyone who owns in PF/Gatlinburg area own other VR's outside this area/state with similar returns?? 

V/r,Scott

V/R

V/R

V/R (Dom)Erik G. 

Even if you intended to turn them into VR, if you had a signed lease, financing them would be easier.

Just remember, VR's are a LOT more work that LTR's, but the returns are indeed better (in most locations - that's why you need to do some research).Best of Luck!