Don't sleep on the little bonuses you can get investing in RE. 

The Smokies is a great market for that because there's a large inventory of cabins that look the same.We built one cabin in 2021 (sleeps 16) on a burn lot and it's doing great. 

And don't sleep on the live-in flip option...I also have a family and am in the middle of my 3rd one.

Quote from @Drago Stanimirovic: I would save some cash, after the change in the market the last couple of years with rates going up and inventory, keep some cash in reserves to so you can sleep okay at night (even if you are not a stressor when you have 0 in the bank).

This is purely psychological- but you have to sleep at night.  

Higher purpose stuff than a box LLs overcharge people to sleep in😎 

Quote from @Mike Kirby: Quote from @John Underwood: I have a 6 BR Vrbo that sleeps 23.You can set your extra person fee above a certain number.We charge an extra $1,000 for weddings.If people just come over to visit we don't charge extra for that.Do you have a queen and bunk beds in every bedroom?

@Swathi Vangari and @Josh Lifton  There are companies out there that do true Engineering-based Cost Segregation Studies that will let you sleep at night.

We allow families we KNOW to stay in it. it sleeps 7-8 people.Also, I have a lot of friends that also have campers. and they allow me to use it from time to time to help the families.I also cleared a designated 1 acre area for tent camping.

Durham and Raleigh are the best combo of STR-friendly city policy and solid RevPAR.Avoid newer suburbs unless you love reading restrictive covenants and losing sleep over neighbor complaints.Let me know what you're seeing in your market.