Basic information of the unit: high-rise condo, 1be/1ba, 630 sqft, no short-term rental restrictionsTargeted customers: younger customers who are here for main tourists attractions, as the unit is walking distance to major attractions in the cityScenario #1:Remove the carpet and refinish and stain the tile hardwood floor under the carpet into coffee (or slightly lighter) colorReplace the kitchen countertops into white granite countertopsLower the breakfast countertop and replace it with a larger white granite countertop (with possible two extra legs), making it an eating area.

2-bedroom, 1-bath, 930 square foot single family home in a small tourist town in northern WI, listed for $48,000 and assessed at $32,000, estimated FMV of $34,000. 

Also, a lot of STR owners in the Valley need to do monthly rentals over the summer, when tourists are not in town. 

I only invest in tourist areas by the coasts and only do short-term rentals.

Homeowners also must pay a $150 registration fee; obtain a local business license from Indian River Shores; obtain a state license from the Department of Business and Professional Regulation; and set-up a local tourist-tax account with the Clerk of the Circuit Court.Feel free to reach out if you have any questions about Vero Beach.Thanks,Karen

I see great opportunities in tourist areas in European countries as well though the currency play is not as good as in other areas.  

One of the main rules of real estate investing is to invest where the economy is diversified (except if you invest in short-term rentals in touristic areas of course).

We found that a lot of students were moving out of very poor conditions, and were too far outside the tourist areas for the jobs (when they were a thing). 

The tourist city downtown locations are not.

I agree with others, our STR had a record year even in a non-tourist college town in a year football was basically cancelled.