Colorado is 15%  this year (they round up)TAKE NOTICE !! 

I am here to be a knowledge base and help potential investors get their feet wet. 

We are evaluating a purchase of ~30k square feet of warehouse space next to a new Amazon distribution center.

Rather than second-guessing "what is the new hot STR market" as I see many do - I may be biased - I believe it makes more sense to invest the time in figuring out how to succeed in a year-round market which is proven to attract tourists year after year.

I'm planning to getting my feet wet with an actual investment, specifically in the LTR space in Philly -- where I'm currently based. 

Made up nice round numbers, and yeah these are extreme just to highlight the concept:MLM tenant: 8% cap is appropriate based on comps, paying $100k/yr. $100k / 8% = $1.25m.Dentist: 7% cap is appropriate based on comps, paying $100k/yr.

Don't get me wrong, I'm grateful we have our STR and will eventually add one or two others, but my advice would be to start with a long term rental, get your feet wet and grow from there.

I am deciding if I want to do this on my own this first round (I currently work 70 hours per week so this isn't really my first choice) or find a property manager (or someone willing to manage mine) who has a good cleaner/handyman/team and has had some good experience with MTRs in this area!

You might want to stay on the STR, for now, to get your feet wet. 

It says “Variance granted to reduce the rear yard setback from 20 feet to 5 feet in order to elevate an existing single family residence”.