STR strategy - choosing a market for a newbie

[Sama Pa]

Looking to diversify and wanted to ask BP nation about choosing an STR market. I've heard the suggestion to choose a market which you can easily convert to LTR. Then, there is the other school of thought that you should invest in areas where there is decades long history of being a vacation/resort spot so that legislation is not likely to restrict renting in the future.

With everything that has happened this year I would like to choose a market where this risk is lower. Does that exist?! Recommendations on a market for this STR newbie???

[Paul Sandhu]

According to Google, I live in the worst town to live in in Kansas.  There is no tourism.  Just drugs, crime and unemployment.  There is a petrochemical refinery and fertilizer plant here.  Employs about 600 local people and also employs anywhere from 50-200 traveling temporary workers (contractors with a per diem).  I rent my 23 STRs to contractors.  2 guys can pay $400/week and share a motel room.  2, 3 or 4 guys can pay $400, $600 or $800 a week and share a 2, 3 or 4 bedroom house with a kitchen, washer/dryer, cable/wifi that is decorated like Hugh Hefner's Mansion.  When I say "guys", i really mean "ruffians".  Welders, fitters, sparkies, boilermakers etc.  Guys with neck tats that drive jacked up 4x4s that chew tobacco in their sleep.  Managing the STRs and the renters is not something for someone with an effeminate personality.  You have to be an equal or bigger ruffian than them.  It helps if you box, lift weights and practice Krav Maga or other offensive/defensive combat skills.

You also need 3M talent.  Mechanic. Magician, Mindreader.