short term rental investment property criteria

[John Bucknum]

Hi, 

I am researching short term rentals as investment properties in downtown Pittsburgh pa. I have narrowed down location pretty well, but trying to decide on the actual property. plan to meet with a realtor early next week and would like to have some criteria to guide our search. Right now I am thinking 2-3 bed/1.5+bath, intending to be able to sleep 6+ with sofa/bed or similar, SFH or townhouse. So far it appears most apartment and condo buildings seem to be anti-short term rental, many listing this on there website, so the sandwich arbitrate strategy seems to be out.

we are currently rehabbing an 11 unit building, but I am not against buying a distressed property and doing the rehab, but that will delay us to close to the summer months which I imagine are the busiest for STRs, at least in Pittsburgh.  I could be wrong though, I can see rapid steelers fans doing a lot of bookings.

There is a developing area within walking distance of stadiums, casino and major hospital and museums, but half are rehabbed and half are rough.

any insight would be helpful!  

thanks!

John