Park City vacation home and STR investment

[Derek Todd McCarley]

Currently debating the pros and cons of purchasing a property in Park City to have for family vacays and an STR. From a strictly analytical investment stance what do you guys think about this move?

I would 1031 to purchase 1/2 or more potentially. Fears are the prices are really high since 2020. STR market has its shakes as well, but believe this may be niche enough to create cashflow or cover the financing balance.

How much upside is there in equity with prices being where they are? if any