Best Market-Entry Strategy for Short-Term Rentals

[Patrick Zepeda]

I am wanting to start investing in STR acquiring or developing the real estate. I think Bend is a top place for STR as there is multi-seasonal demand and is a city with a lot of growth. Problem here is, apart from the zoning restrictions of STR, purchasing a property is extremely expensive. Day dreaming here, but purchasing land in the Deschutes River Woods / South Bend and developing a cabin with plenty of outdoor amenities would be - a dream. However, land costs are crazy, most lots are going for no less than $400k. So, my question here is, what has been the best way to enter the market? And does anybody have an idea of what the PSF development cost is?

Thank you!!!