.), and what the infrastructure looks like (sewer, water, electric) because those systems can make or break the deal long term.

Things to keep in mind:  1. clean the dryer vents right through to the exterior exit.  2. make sure the tenant is paying for water and electric--if not, boost the rent to compensate for your higher utility bills. 3. have it professionally installed. 4. install an electronic leak detector. 5. make sure your lease explicitly states your appliance condition and repair rules (whatever they may be).

Everything is new: plumbing, electrical, roof, HVAC, water heater, etc. 

Not a dead in the water issue, but it is a nice easy way to compare. 

Include basement and attic as existing.Turn off the water (if not needed for heating) at the street, and transfer all utilities into the owner's name.You may remove and properly store any tenant items left behind, and that is at tenant's expense (collect that amount before you release the items). 

Even back then there were a lot of high rise hotels where you could get a decent condo-style room with hot water, cable tv etc for really cheap ($15-20USD/night).

The Pigeon Forge area is pretty saturated and anything in Florida has super high insurance rates.I'd identify properties and run the numbers along with insurance quotes.If you get a good enough purchase price you could likely make something work.Look at travel times to attractions, amenities, views (water, mountains etc) and see how your local competition to any subject properties your interested in is doing.

Red flags / hidden costs:Utility splits — adding extra meters or lines can get pricey fast.Permitting delays.Insurance (Puerto Rico’s rates for multi-unit + STR properties can be eye-watering).Contractor reliability — vet hard; island logistics can stretch projects.Bottom line: this deal has legit upside and flexibility, but treat it like a marathon, not a sprint.

I’ve spent a good amount of time running numbers and analyzing rent-to-price ratios, but I’m finding the hardest part is actually narrowing down which towns to target.A few things I’m keeping in mind:I like being near water since values usually hold stronger long-term.At the same time, I want to avoid areas with high flood risk.I’m focused on steady, long-term rental demand rather than short-term or vacation rentals.For those of you already investing in the Carolinas:How do you evaluate towns when deciding where to buy?

I assume any/all water has been cleaned up to prevent mold/warping.