The STR market was great 2yrs ago but is now saturated.  

Occupancy, ADR, and RevPAR have all been down slightly from 2023, which we expected based on inflation (less people traveling) and saturation (more available units for rent). 

Most people recommend Pigeon Forge/Smokies area instead, but seems over saturated with a hard exit strategy.

One, see how saturated an area already is and what the rental rates are.

It is a heavily visited area, but I believe it has become one of the more saturated markets this year.

Quote from @Michael Smythe: @Jason Frink you can also look into Detroit and Toledo.Been reading that Memphis is becoming saturated with rentals. 

And do not go into over-saturated, over-regulated areas....do your homework big time...

Quote from @Scott Deetlefs: The short-term market is saturated.

If I just go by AirDNA, the difference is not much in annual revenues.Thanks,AnkurA pool will get you on average $75-100/night in addition to normal rates (I think this number is dropping due to additional saturation of pool cabins).  

Speaking with one of our attorneys she mentioned the largest area of defaults she has seen is in SS space as it got over saturated in some markets and rent appreciation has not been as advertised.