New short term investor looking for hot short term rental markets

[Dan Collier]

Hi everyone!  I am a newbie investor from the Baltimore/Washington metro area.  I just got my first long term rental up and running a few months ago and am now looking to try short term rentals to increase cash flow more quickly.  I wanted to start with Rehoboth Beach, DE since its been a family destination my whole life and we have a family place there, but after that I was wondering how do I find the hot markets to get into?  I heard on a podcast episode that the Smokey Mountains, Florida Panhandle and Joshua Tree are up and coming but what is the best way to find and rank them?  I was hoping to aim at a mix of hot markets that are also within driving distance so I both have the option of checking in on it easily and can use it as a lifestyle asset as well.

Thoughts?

[Luke Carl]

There are really only a handful of actual "vacation markets" you already named a few of them. I certainly would not use the term "up and coming" for any of them. If you want true vacation you're limited to vacation markets. Where the local population is much lower than the tourist traffic. You can also of course short term rent in Cleveland but that's a whole different thing.