I failed to do this twice and ended up in court both times.

Arlington managed to defend its STR regulations in court by carefully gathering concrete data and framing its regulations around public safety concerns.

BTR properties are great if you’re wanting to get into new construction with lower maintenance needs- plus, they could have potentially higher tenant appeal.

I was still nervous with all that was going on.. and well by 2010 I was buying them at the court house steps for 20 to 40k each. 

From our experience managing multiple MTRs in Indianapolis, larger homes don’t appeal as much to traveling healthcare professionals.

However, there are some challenges to keep in mind:Regulatory Variations: Regulations can vary widely between locations and are constantly evolving.Active Management: STRs require more hands-on management for guest turnover and communication.Additional Costs: Don’t forget about expenses for furnishings, cleaning, and possibly hiring a property manager.If you’re looking for STR-friendly areas, consider these locations, as others can be too expensive to consider, such as Snowmass Village or Aspen:Breckenridge: The most visited ski resort in North America, attracting around 3 million tourists each year.Steamboat Springs: A popular year-round destination for winter sports and summer activities.Keystone: Great for those wanting a less crowded resort experience.Divide & Florissant: Charming mountain towns close to Colorado Springs.Fairplay: Just 30 minutes south of Breckenridge, with an impressive 82% Airbnb occupancy rate.Cripple Creek: A former mining town now known for casinos and outdoor activities.Park County: Very Airbnb-friendly, though regulations may change.Here are some strategies to help you succeed in the STR market:Hybrid Model: Consider using some units for STRs and others for long-term rentals to balance income.Research Local Regulations: Always check the current rules in your target areas before investing.Year-Round Appeal: Focus on locations that attract visitors in all seasons.Quality Furnishings: Invest in quality to justify higher nightly rates and attract better guests.Dynamic Pricing: Use pricing strategies to maximize revenue during peak seasons while maintaining occupancy in the off-season.Stay Flexible: Be ready to adapt your strategy as the market and regulations change.While Colorado’s STR market offers exciting opportunities, it’s essential to approach it strategically.

Investments we are considering or at first glance are appealing to us:fix and flipSTR *we live in a year round resort town (this is appealing to me with my hospitality background)Owner Contracts vs. renting?

It would be more appealing to the buyer if it was an empty lot.

This mismanagement greatly increased our maintenance costs and delayed efforts to improve the property's condition.Evictions & Vacancy: Due to these missteps, we spent months working through the courts to evict problematic tenants.

But then again, in that same conversation she mentioned the appeal of one-level living and the cabin being totally accessible - when there's a bunch of stairs between the street and the cabin!