Also, I've added about $250 to my monthly costs to cover utilities.Looking on Furnished Finder, I do see plenty of places in my approximate price range, so I thought my target (average of $1100/room) was competitive and reasonable.

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

There are several listings of median house prices and you can go to those closet to your target price before you talk to people. 

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

Big fan of Dallas & Houston -- what's your target annual returns on an investment property?

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.

Hi @Darnell Robinson I think a critical issue is your target market. 

Target affordable rental options for stable tenants.

Primary targets are located in cities (100k+) with positive population growth over the past five years; possessing easily identifiable macroeconomics. 

The use predictive analytics to determine who might sell, they create social ads and online marketing to target them, and they get clicks. 90-95% of these appointments are really for investors because they are built around sell your house quickly and then an agent shows up and tries to list it.