Palm Springs short term rentals

[Sacha S.]

Hey All. I am pretty new to bigger pockets and thought I'd reach out to see where people are at with the Palm Springs market. 

I've been looking pretty avidly and am very interested in going the vacation rental route. Just curious how people feel about this market now that the city is limiting the amount of rentals you can do (32 a year with 4 extra in summer), and house prices being at such highs. Any experience or suggestions would be much appreciated. I am just about to buy a 5 bedroom home out there and will do some rehab before I put it up on all the vacation rental sites for the fall. House is on the north east end. 

Thanks so much in advance

Sacha

[John D.]

The city of PS is threatning to tighten restrictions even further, or entirely phase out vacation rentals over time.  I don't know any investors buying anything zoned resedential with the plan on vacation renting them right now.  Tread cautiously @Sacha S.