Hi all,Recently some friends of mine and I were discussing prospects for looking into the vacation rental market in Avila Beach, given that it's a great area, high volume of tourists (even during COVID), and the marke...

I think it's interesting that rent control tends to be viewed as one of the most extreme/scary tenant protections in a local rental climate.

Are you in a climate that allows one to open a window and cool the interior or get fresh air, or would opening the window allow too much wind or humidity?

Note that in this current covid19 climate, best practice is to not leave any food/spice/condiment consumables. 

With that said I stand by my original statement he shouldn't look to sell because once he adapts to the current COVID climate he will be good to go and cash will begin to flow in again.

If the appraised values in the area would make a conventional loan refinance feasible and you can qualify for one personally, that's a dreamy path in this rate climate. 

However, It's slightly possible that a cash out refi given the interest rate climate over the last two years might improve the performance of the Arvada property in two ways:1.

1) look at global trends. example: We're currently seeing a global migration towards warmer/ sunnier climates.2) look for multiple economic engines rather than one or two main industries. example: strong manufacturing, health care, higher education and a tech scene.3) look for communities that are open to adding higher density living near the city centers.

It's not a major market for investors like Memphis or Atlanta but it has the income growth, job growth, and the right business climate for it to continue to grow. 

It should be noted that I live in a very cold climate, and having the power shut off for any part of the property will result in whatever is inside to freeze — including me.