Multiple Properties:Single Property Purchase: Using the entire $110,000 as a down payment on one property could allow you to acquire a more desirable asset or a larger property, potentially leading to higher rental income.

After multiple attempts over the course of weeks we will eventually resort to changing the locks.

Always have multiple exit strategies!

I have investments all over the city in multiple asset classes.

But if there are enough bedrooms or you get multiple homes, you will be able to support hiring a local manager to manage daily operations. 

You can use a channel manager like Hospitable to help manage the listing on multiple platforms - primarily you can protect against double bookings, but there are many other nuances to each platform that the program does not touch.

Purchase price: $950,000 Cash invested: $1,050,000 We've syndicated the purchase of multiple single family homes, remodeled them and made them into "fun-houses".

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.

Just think about what happens in hot tubs....Every management company I spoke with confirmed this, and I've been through multiple cleaners and they all did it as their standard cleaning procedure.

You can also do both and dedicate some capital to multiple strategies.