@Michael Furey. For most STR, location is one of the biggest drivers to your property being successful. Typically in Orlando, the closer to Disney the better.
For condos, you will have dozens of communities to choose from, some with condos, towns and single family do well..think Windsor Hills. Others will be all condos. For condos, you are not usually going after families since they are smaller, not themed out like a SFR and are price point driven. If you look at single family, they will have a private pool, a converted garage (game room) and themed out bedrooms to attract people wanting to keep the kids entertained and wanting more of an experience. You also have to consider the community itself, most are geared toward families and have game rooms, lazy rivers, restaurants etc right on site. Some people want to come here to relax and want to limit the noise and distractions of all the kids, so a higher end community (like Reunion) would be a better fit and get a higher nightly rate.
One thing to consider with condos is that it can be race to the bottom, once a few nervous owners start lowering rates to get higher occupancy, more and more do it to fill up their calendar, so you end up with $100 night. If condos are what you are looking at due to price point, that should be a big consideration.
There is more to it than just those couple of points, but hope this helps answer your questions so far.
Best of luck to you.
