I'm currently buying properties for myself out of state and hiring property managers - I would plan to do the same here, so my role would not be particularly hard or intense. 

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.

But I decided to test the Air BNB venture.

Looking on AirBnB, $1150 for a tiny place was the absolute cheapest comp I could find nearby, and the next was around $1250/month (after Air BnB fees).

@Jacob Swihart if you hire an agent to find a tenant - do NOT let them screen them!

We appreciate it, even if we’re not hiring you.

Here are five important things to consider when making your decision:Certifications & Licenses: Hire a firm with AMO accreditation and CPM professionals to ensure best practices and ethical management.Local Experience: National firms aren’t always better.

I know that I could hire a PM so that I never have to deal with tenants personally.

If you find yourself too bogged down from too many rentals, you can hire a bookkeeper for a couple hundred dollars per month to manage all of this for you.

I am still unsure if I truly want to hire a property manager, or if its something I can do myself.