I see a lot of comments about SubTo and a lot of them are from people who are not members of the community and who appear to be making wide-ranging assumptions… some of them are very condescending regarding how much value your opinion is if you don’t have many posts/opinions.

I think of it as a range of rental prices of comparable properties and my goal is to make a good return on the lower end of that range of values.

Since I am only qualified for 190k the availability for single family homes in that price range is slim.

As such, there's a wide range of quality in Martis and probably a range in $/sf.  -$600/sf houses (or even $400/sf) are definitely not out of the equation. 

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.

Going to those places will help you stay in your budget and cash flow better too - with property management built in.The hard part with the smaller towns is that they don't always have the big property management setups so thats where you'd have to do some leg work to find ones that do.And you might be able to do bigger str towns or even cities in that price range. 

Acquisition Criteria: Develop clear criteria for the types of properties you target (location, price range, property type, etc.), allowing you to evaluate deals faster and more consistently.

Rates will generally be higher than conventional loans—typically in the 7-9% range—depending on your profile and market conditions.

A 20' wide vacant 4-unit two story apartment building.

@Zachary Kersh if you can live anywhere, look for strong growth areas and then research opportunities, salary ranges and cost of living to see where you would net the most from your job.