As competition in this space cools down, the remaining players who stick it out and new players who enter the asset class will have the greatest chance of being the next class of top performers.

Licensable vacation rentals are obviously in high demand and offers can become quite competitive, I don't have any formal statistics but I'd say a quality active or eligible vacation rental sells at least twice as fast as a non STR property, the majority within days..My best advice to investors shopping for a hot or high demand asset class is:- Prepare & Practice: Get your ducks (GO UO!) 

Best wishesMilwaukee has been on a steady 7-8% climb for the last 10 years, we have a chronic housing shortage and according to rentcafe 2024 we are the second most competitive market for tenants only second to Miami, FL.

That means when something comes on that has good rents or is in good condition, or both, there's a ton of competition for it.

With the amount of capital I currently have I am looking at 450k - price range with conventional financing (not very competitive in this LA market).

Aug.that is a 13-year-old competitive sailor) and I used to keep a Hunter 31 on the Chesapeake Bay near B-more. 

And in a highly competitive business that distressed RE is the inventory moves to fast one needs to be able to look at a deal and in 5 minutes decide.. at least to make and offer

NY is a competitive high-priced market so it makes sense that you're open to areas with lower barriers of entry.

higher cost means less competition. 

Milwaukee is great to invest, but has gotten competitive.