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.

I mention this, because at the end of the day, these are all investments, just like stocks and bonds and private equity, etc.  

Borrowers need to have 9 Months' P&I worth of liquidity (cash / stocks / bonds / crypto / etc), and 100% net worth relative to the loan amount.

Best of luck,NoahThis response provides clarity on Peter's inquiries while maintaining a supportive tone.4o mini

I remember the tale about the neophyte stock market player who went to his mentor and said "I just bought a block [100 shares] of IBM."

To maintain anonymity, consider using a land trust with the LLC as a beneficiary or setting up an anonymous LLC if allowed in your state.

Hey @Devin Bost, so if I need to ship something direct, I just ship it to my lake house and my neighbor will go and put it in the garage for me.I then let my cleaner know about whatever it is, usually toiletries and the like, so she can put them away.I am about 7 hours away from our rental so I do drive over 2-3 times a year to take a look, make small repairs and stock up stuff.

As a property manager, I always recommend that the property owner maintains ownership of the listing.

Practicing resilience and maintaining a level-headed approach allows investors to navigate challenges more effectively.Thanks for sharing these insights!

This means the total time both spouses spend on managing, maintaining, or working on the property can be added together to meet the 500-hour requirement.- Real Estate Professional Status (REPS): For REPS, only one spouse's time counts toward the 750-hour requirement.