Area: Colorado Springs, CO (in a nicer part of Colorado Springs that draws a lot of tourists and outdoorsy individuals)Price: Asking was $550, we bid $555 to beat out another offerConcession: After a lot of back and forth, the concession we've received is 15K off for a total price of $540Cash Flow: Excluding the major repairs, property will cash flow around $100/month (including property management) before the additonal unit and closer to $700 per month after the additional unit, conservatively.Loan Terms: 25% down, 3.5% rate 30 year loanThe CAP rate at the new price ($540K) is 5.8%, which is in line with other buildings in the area (Avg is around 6).

This is not a great time to start a short term rental in an area that depends upon urban tourists.

Im looking into an potential air b&b in a tourist area.

Target cities like Montreal and Nashville where there is a good supply of tourists and long-term rental rates are low enough for your business to be profitable.Be mindful of cities such as New York or Miami, whose municipal policies either don't allow short-term rentals or make it very difficult to host a property.

If you can find a place that will airbnb in a tourist location, then it will be much better.

If you choose maximum return, it probably won't be in NY/NJ/PA but more like a year round drivable destination popular with tourists like the Smokey Mountains, St.

Many of L.A.’s tourist-dependent industries, including hotels, restaurants and theme parks, remain closed.

County made up only 15% of the 50 million visitors to our county but represented 49% of total tourist spending!

While occupancy is tanking overall, there are several tourist areas which are almost completely unaffected by COVID. 

I manage my own County Tourist Tax: 6% (airbnb now allows hosts to charge it to guests, nice feature)With that you can create an excel spreadsheet to get the numbers.