Can you still get a good COC return with STR prices so high

[Robert Sullivan]

Looking to buy my first STR and having trouble finding one that projects to make a COC return worth investing in. The high sale prices and subsequent mortgage payments kill the net profits. Raising the rental rate would price me out of the competition of those who bought low and are seeing a 25% COC return. Am I just looking in the wrong areas (Maui, Lake Norman, Gatlinburg)?