Poconos (Shawnee Mountain) airbnb

[Kevin Mathisen]

Hello BP community- I just took a trip to Shawnee mountain with my family and we stayed in a 2/3 condo across from the slopes.  Paid $425 for 2 nights through airbnb.  The place was clean and had great reviews so no complaints.  Just it was really outdated and poorly furnished so the investor in me realized possible opportunity as I know my wife and I could provide a better product.  Looked up values in the area and saw the exact unit we are in is selling for <100k.  Spoke to the owner and he is selling his 4 short term pocono rentals because he is moving out west.  We are interested in buying this place to utilize several times a year and rent out through airbnb or vrbo when we are not there.  After some brief research I have found out there are issues with some municipalities restricting short term rentals.  Besides the $500 license fee anyone know of any other possible issues?  Any advice for maximizing cash flow on short term rentals?  We would be interested in either simply holding 1 unit or quickly scaling to 5-10 units if it makes sense to economize by scaling.  Have also visited Lake Harmony and love it there- plus it is closer to Philly.  Would love some feedback and to connect with others.  Thanks for any and all feedback!

[Tatyana M.]

you have to receive certification from Monroe county and pay 3% lodging county tax quarterly (thats in addition to 6% PA lodging/use tax). I just spoke to the county's treasury department yesterday and got a feel that Poconos are going to stay more STR friendly than other localities because, well, Poconos is a resort area.

some townships do implement additional fees, like the yearly $500 you've mentioned. 

biggest obstacle is high property and school taxes, especially in Shawnee >$5k. next year the county going to present tax reassessment; im not seeing it going down. 

if you can make the numbers work, Pocono STR is a great idea.