What to look for in a long-term vs. short-term rental property?

[Joe White]

Hi everyone, I'm super new to all of this and to BiggerPockets. My partner and I are very interested in purchasing a property to be a short-term, vacation rental. Question is, do you still look for the most amazing deal on a fixer-upper, or is it better to look for something that doesn't require a lot of rehab and pay closer to market value for it (since, you're assuming much higher cashflow from it)?