It boils down to being on the ride side of the supply/demand equation.

But if you look at other global macro trends you see other things forming quicker and I won't get into that, but that doesn't mean this isn't coming.I'm very tempted for the first time ever to sit 100% cash and watch, I may do this as we enter first business week of June.

Source: WikipediaSustained and significant population growth: Prices and rents are a function of supply and demand.

This Cap would allow room for some future new STR supply.

It is all supply and demand.

I've heard of mentees who started cleaning up construction areas on a flip at the end of each work day or picking up supplies at Home Depot and delivering them to the job site.

The fact that it loses money is somewhat mitigated by my tax savings at year's end (I have RE professional status).You just have to keep in mind that although there's a lot of tourists to the area a lot of them are cheap bastards that gravitate towards the lowest fares out there, and there's so much supply especially in the last 2+ years that it's a serious race to the bottom as you're competing with people who bought at $150-200k 10-15 years ago, never fix up their place and don't care if they rent for $99/night.

It's a recognized destination globally with over 70M tourists a year.

Currently we are sitting with 3 months supply of inventory for all properties.

If there is a demand, there will be supply and people making money out of it.