They told me that both options would last around the same amount of time (apparently they have a 14 year lifespan on average nowadays) and they give a 10 year parts warranty, so might as well go with the cheaper option.

Heard through a friend as potential for cash flow even with current rates and growth potential due to proximity to TX north border, casinos etc.   

You have to get creative and know what options you have.Building is the best option imo, so you’ll have to buy and tear down it seems like nowadays.

I am wondering if everything in the Ultimate Beginner's Guide and other real estate books for beginners that were written a decade or more ago still completely apply to nowadays investing.

Pricing and multi channel approach is very important nowadays

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.

Its a magnet for grifters and fools, and the "investing" equivilent of going to that crummy casino in National Lampoons Vegas Vacation (?)

This is before even the problem that these techniques and strategies work only in a limited number of opportunities, and these opportunities can only be recognized by someone with knowledge of real estate principles, law and finance. interestingly, what seems to sell nowadays is this pop cultural belief that education in anything but specific techniques is worthless; that something called motivation, combined with a positive mindset and an unwillingness to accept reality will triumph over anything else and lead to massive success.  

There are plenty of resources for you to use nowadays or services that can take care of the small things.

Nowadays, we reach out to the tenant two months before the lease is set to renew with the new lease price and ask if they intend to stay.