Hi Jon from Boyertown, PA-You and your fiancé are interested in buying your first short-term rental and wonder profitable areas to purchase with a budget up to $500,000.I would look at places along the west coast of Michigan, Grand Rapids, Kalamazoo, and near Ann Arbor, MI.It is important to understand the local STR regulations in each community and partner with a property management company that can help your navigate that and manage it well for an excellent guest experience.Don't forget to look into bonus depreciation and doing a cost segregation study to increase the tax benefits of ownership and if you "materially participate" in the management of the property per IRS guidelines it can offset active W-2 income which most real estate cannot.To Your Success!

it all depends on the math.I have an excellent Oahu investor realtor referral if you need help sorting it out.

Thats an excellent area and so excited for you to get started in your RE journey.

@Excellence Carlos @Ben Seitz @Nicole Heasley @Jason Simon BiggerPockets has removed the app from app stores.

Note: The BiggerPockets Calculators do not offer me what a goodl ol' fashion Excel spreadsheet might.

Excellent point, thank you for bringing this up.

Still, we appreciate you and the entire REI team for your support and excellent service.  

Seller financing would be an excellent way of purchasing a small hotel/motel, but you'll need at least 25% down.

Had excellent success self-managing as an Airbnb in the winter months and switching to a mid-term rental the summer months.

I hope you are working with an excellent agent or broker, they can create leverage and opportunity for you while protecting your interest.