Short term rentals and appraisal gaps

[Javier Manzanares]

Hey folks,

I'm a rookie real estate investor seriously looking to get in on a short term rental in the Kissimmee, FL market. I've analyzed many deals and made several offers and had none accepted. My current struggle is that properties are selling way above the appraisal values, which for a short term rental means a heavy drop for cash-on-cash returns.

Are all markets currently behaving the same way? What would other experts in this space recommend?

Some more context: I'm looking at STR to bootstrap cash and accelerate growth. I'm planning on self-managing these properties. I have a day job with a good salary W2.