Arlington is the only Texas city that has successfully withstood legal challenges to its strict STR regulations.

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.

Challenges Encountered: Were there any significant challenges you faced during this transaction, and how did you overcome them?

Dealing with challenging individuals can be frustrating, but it’s essential to approach the situation professionally.

Either market will take time to stabilize and have challenges to overcome, consider which one you can manage easier an balance that with your ROI. 

That is where the challenge is because the prices tend to be much higher.

The plaintiff's and insurance company's attorneys seem to know the drill - which is that the case will be settled for under $20k.Have been told this amount is cheaper for the insurance companies than challenging the plaintiff's claim and going to a jury trial.In our opinion, this just encourages desperate tenants AND personal injury attorneys to file frivolous claims!

Our focus is on securing high-quality tenants to restore stability and improve cash flow.Despite these challenges, we are confident that selling this asset is the best course of action to protect the overall portfolio.Immediate Plan: Increasing OccupancyTo improve the property’s financial performance in the short term, our plan is to lease up the vacant units as soon as possible, starting with the three units that are rent-ready.

Any specific goals or challenges you're facing right now?

However, finding this in Florida has been quite challenging.