Poconos, PA Short Term Rental Beginner

[Angelito Mamutuk]

Hello! First post on BiggerPockets and looking to gain some insight in the Short Term Rental market in the Poconos, PA area. Actually have a friend who already owns two rental properties there and is doing very well (Pocono Lake area). They have owned both properties for over two years now and they manage it themselves.

My friends and I began looking for an STR about two years ago and have sent out about 30 to 40 offers since (pre-COVID) and unfortunately we always got outbid. In the past few months, supply has dwindled extensively and we haven't found anything we liked, also prices have increased dramatically.

Can anyone provide any insight on what else they've been seeing or are other potential investors equally as frustrated with the supply in the Poconos? Hoping to get more supply towards the winter season and into next year. 

Fore more transparency, our budget to purchase an STR was at $200k around the Pocono Lake and surrounding area.

Thanks for the help!