There are lots of upsides to choosing this strategy:Lower entry point for pricing (since it’s mostly condos)Can experience higher returns than LTR, especially during high tourism seasonsAirBnb has made it easier than ever to book your propertyBut despite all this goodness, I can’t help but issue at least a word of warning regarding the future of Phoenix area short term rentals.Disruption = Legislation & RegulationAirBnb has been not only a complete disruptor to the hotel industry, it’s also been a disruptor to local neighborhoods and property owners.And with that, comes lots of regulation. 

Here are my 21 tips for starting out:#1 – Learn From Others#2 – Plan to Market#3 – Know Your Type (Performing, Non Performing, Re performing, Investor Notes, Seller Financed, etc)#4 – First Refer A Deal#5 – Discover The Why Behind the Note Sale#6 – Get To ‘Know’ The Payer#7 – Verify Everything#8 – Embrace The Boring (Due Diligence Counts)#9 – Plan for The Worse#10 – Partials Are Your Friend#11 – Master The Time Value of Money#12 – Encourage Early Payoffs#13 – Originals Count (Get that original note and endorsements/allonges)#14 – Stay In Control#15 – Seek Professional Help#16 – Use Solid Servicing Procedures#17 – Understand When Laws Apply#18 – Get Self-Directed#19 – Spread The Risk#20 – Know When To Fold#21 – Be Creative If you PM me here on Bigger Pockets I can send you details on the individual tips. 

Panama City Beach appreciation was 18.7% last year, and our local tourism boards are heavily focused on making us a 365 day-a-year destination.  

@Omar Merced I love the idea I just hope they come out with bigger ones id love to use this to develop land in tourism areas

Embrace the "slow" and tedious...

There's huge seasonality with the wintertime tourism.

@Tiago SpeckeInvesting out of the country can work very well provided that you have the right knowledge and connections or you have access to people who have those.I like to invest in places where properties are inexpensive, there is a large amount of tourism, there is a path of progress and the legal system doesn't discriminate against foreigners.

I'm not sure of your background, but really embrace the education process.

I'm curious to see what the tourism does in the coming years.

Rather than risk time and money tackling a difficult problem alone, successful real estate investors know it is worth the additional costs (in terms of money and ego) to embrace other people’s expertise.10.