@Michael SmytheYeah it’s more the amenities, attractions or near a family member. 50 miles plus isn’t a magic number, old policy

Is the percentage rent from restaurant sales baked into the income that makes the cap rate look more attractive but isn't actually stable, secure income over the long term?

Some of the top producing areas we've noticed in terms of pound for pound ROI and generally smooth path to STR permit currently include: Florence, Brookings, Waldport, Nehalem, Lane, Coos and Curry Counties, and case by case Rockaway Beach (three oceanfront STR's for sale with permits) Lakeside and Bay City. 

The low initial investment and high resale value made it an attractive opportunity.

The low initial investment and high resale value made it an attractive opportunity.

The low initial investment and high resale value made it an attractive opportunity.

Attractive to some, a turn off to others.

From what I hear, that's a pretty thriving real estate market and attractive place for young working professionals, which sounds a lot like Denver where we are.

Has anyone had any success with buying motivated seller leads or buying into a website that produces them for you?

Trying to keep an existing tenant often produces more trouble than it's worth.To answer your original question, you should absolutely give them a deadline and a consequence.