New to STR- How is the market in 2024

[Kanika Jain]

We are from California and looking for investing in STR for tax purposes and good cash flow. California is an expensive market. We are looking for homes priced around 500k (including renovations) and revenue 50-60k per year. I am willing to invest in renovating the place to reach profitability.

What I am looking for:

- Decent margin of safety as opposed to highest yield possible.

- Low operational cost

- Good seasonality markets

- Should be easier to operationalize service via property managers remotely.

What are some of the strategies that have worked? For e.g.- Jumping into up and coming market vs renovating in a saturated market?

We are currently looking into Kissimmee and Fort Myers to start with. Any recommendations of good markets outside of Florida would be great to learn.

Thanks.