Also running an STR business is not just as easy throwing it on Airbnb anymore, it is a competitive business. 

I've seen/heard people getting more competitive bids in the higher risk markets, but yeah I do think the subtle increases 2-3% are a bit aggressive. 

A lot of people seized the opportunity with students because of the medical school but that area is now saturated with over priced student dwellings.There is still a market for STR geared towards tourists but the competition has increased on the tiny island. 

We don't need income docs or anything of that sort and our rates are competitive with banks. 

But then off the list, I imagine the property values went up and/or the new competition drove the ADR's down. 

There are a lot of title companies, which means there is a lot of competition in this space.

This is also a useful tool when trying to decide between renting, househacking, or purchasing a single-family residence/condo apartment.NYC househacking is possible but some areas will be more competitive than others.

If you had a competitive advantage you need to understand note investing and how to do due diligence on it to see if it’s a legit note and feel for pricing expectationsNot saying it cannot be done but there are every few brokers in the space.If you are trying to do this as a way to generate revenue, unfortunately I think you will be disappointed

Especially now that guests have a lot of options in most markets.We used to have it off when it was a lopsided market but now it is more competitive you need to remove as many barriers to renting as possible. 

Thank you for taking the time to reply - in fact, I was just thinking about this and yes, I believe that I would - the reviews and information that I have gathered all suggests that the businesses in the area are simply awful - and it would be interesting for them to have some competition.