You’re spot-on about the "missing middle."

Or maybe they do now since the last time I used it.It’s an excellent solution for smaller portfolios because you can easily spot discrepancies.

I get it - tough spot to be in.

Land is also scarce, so a SFH in such a dense and popular spot will be rare and expensive.Also as David mentioned, land retains its value but structures are generally thought to depreciate to zero over 25 years.

He does have a blind spot.

The idea is spreading, and could spread to some other spots here that have traditionally been STR friendly. 

I an afford to sit on this property as its in the Yosemite AirBnb hot spot and don't need to do anything right away as its in a killer location.

They average 4-5 night stays, keep in mind im not in a vacation hot spot.

Planted or are planting 25 acres more in total at 3 spots. 

Although you are a new investor, you actually have more and better options than seasoned investors.Id they need a second parking spot , rent that to them also.