I think another factor here in determining whether its a good investment is your age and your goals. 

Once you have those answers and find out how Airbnb would penalize canceled bookings...that alone is huge deciding factor for some old/new STR homeowners....you can move forward with the best answers that would help you meet your 12-month goals! 

ARV is a very important factor here. 600 FICO is minimum. 

I understand some of the economic factors that can lead one to a particular city or province (or state), but unsure of some of the key elements as you funnel down below that level.Appreciate any insight.Tyler 

One of the biggest factors in successful flips is building a strong team: contractors, agents, lenders, and property managers. 

Since the payment was deposited into your account on 1/6/2025, it would typically be considered income for 2025, even though the tenant paid it on 12/31/2024.However, if you use cash-basis accounting (which most landlords do), the key factor is when you physically receive the money, not when it was sent or owed.

Treat this property as a business and factor in all the associated expenses, including mortgage payments (if you pull a loan), maintenance, and potential vacancy periods.To simplify management and make this less of a hands-on job, I’d strongly recommend working with a property management company.

Property Valuation:Investors look at a variety of factors to determine a property’s value, including comparable sales (comps), rental income potential, and location.

I'm not in that market so I can't speak specifically to it, but to me the deciding factor would be what the surrounding units and area has. 

Focus on factors like affordability, growth potential, demand, and landlord-friendly regulations to guide your decision.Good luck!