@Kevin Mcilnay Thanks for sharing your your thoughts and soliciting feedback. I just moved out of Fayetteville, physically, but I still invest in Fayetteville. I also have not been investing for very long ~2 years, but I will say that while the market is 'hyper', it's been competitive since I started buying deals. There is still opportunity to buy homes at reasonable prices to achieve flip and/or buy-and-hold objectives. Just as recent as last week, I know folks who've locked up deals on the MLS with great potential. Leverage wholesalers like @Robert Shortsleeves to help you find/buy deals that fit your criteria, and if all else fails try going direct to seller. I think as long as you know your criteria, know how to recognize value, and maintain strict and conservative underwriting, then you can play ball in any market.
Also, which mountain towns are you referencing? I have some interest in mountain vacation rentals as well, but I lack the research, knowledge, and experience for it. Sounds like you've done some research and I'd love to hear your findings.