I'm only really qualified to answer question 2: I run a VR from 200 miles away and another one from 2000 miles away.  

To get more information, you can email some of the owners in the area through the inquiry option on VRBO and let them know you are interested in buying a VR in the area and ask them if you can email or call with a few questions regarding owning a VR in that area.  

@Paul Smythe  You should be able to find plenty of conventional financing options for VR's without requiring much if any rental underwriting I would think.  

And there is no reason you cannot do both, so start it as an STR while the economy is hot and then if the local VR rental market shifts you can always slide it into a long term if you needed to.  

This way I don't have to worry about blocking out time to remodel a place or pay top dollar for one that's already renovated.To be fair, it doesn't seem worth it to invest in a VR in Maui unless you're willing to put down a lot of cash or be able to self manage.

We owned 4 VR in Chandler up until June of this year.  

Are you at all open to a VR in the Smoky Mountains? 

Any advice or comments are appreciated,v/r,Gus

Now from the renters side of things... we have rented VR's for years across the country.

We have 5 VR's, 3 are financed with conventional investment loans.