The reply to this question could depend on your situation; but, regardless of your location, there are a few items to contemplate when making a decision to rent out property. These include: limitations on security deposit amounts, mandated disclosures, the breadth of tenants' rights, and how hard it could be to evict a tenant in the event that the tenancy doesn't work out. This being said, Tennessee is the home of tourist attractions like Dollywood, Graceland, and the Country Music Hall of Fame in addition to colleges and universities like Vanderbilt University, the University of Tennessee, and Belmont University, so there shouldn't be any shortage of potential short- or long-term tenants if you're nearby.