4 bedroom property in Dillon, CO
We have the opportunity to buy a 4 br, 3.5 bath home in Dillon. It wouldn't be a deal price-wise, but we'd save realtor fees as it'd be a private sale. I'm struggling with figuring out whether it would be viable as a STR (AirBnB or VRBO) due to variable rental rates and demand throughout the year. From my initial research I think I'd have to keep it rented about 70% of the time at an average nightly rental but that seems like a lot (without any data to back that feeling up). The location is prime and it's in good condition. And of course we'd like the option to use it ourselves from time to time which would be hard if we actually manage to keep it rented 70+% of the time.
The layout would also lend itself quite easily to splitting into two 2BR units with the option to rent one or the other or the whole house but that wouldn't be something we'd do up front.
Thoughts?
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I'd make sure to check the local regs on STRs. I think you're subject to hotel tax and there may be other restrictions depending on the neighborhood. But, there's also a huge lack of LTRs/local housing with good seasonal and year round potential, especially if you split it into two units.