Pros & Cons of Replicating a Successful STR?

[Saad Munaf]

Hi guys, new to BP and real estate investing. I'm looking to purchase my first property and set it up as an STR. I'm using the ENEMY method, AirDNA, Mashvisor, Revedy, and Pricelabs for comps and analysis.

I was able to select the market and community that is marketed as vacation rental homes and most of the houses are set up as STR. As a first time investor, I'm thinking to replicate those existing houses (with little bit of my touch) but wanted to ask what would be the pros and cons in terms of competing with existing STR's in the community?

Hope that makes sense.

Thank you.