I forget it isn't a race.

What I see happening is the beginning of a race to the bottom .

Also research what types of events come to Kona, like Iron Man, paddling races, etc. and market to those folks.

Disclaimer - I am not an CPA or attorney but I became financially free doing this for myself after 10 years working as a w2 engineer :( and I am sick and tired of seeing highly educated and hard working professionals getting stuck in the rat race because we deserve financial freedom and the option to do more with it.If you are able to implement a real estate professional status tax strategy (REP) you can use passive losses from syndication deals to lower your ordinary W2 income.

Remember, when rates drop then you can refinance and benefit from owning the property and having a lower rate.If you wait until "rates come down" then everyone will be in the same race and someone else with deeper pockets may beat you to the property. 

It's a slow and steady wins the race game, but it is not and should not be for everyone. 

@David MezaEnjoy the race!

I have seen that project and I am a little fearful that it is going to cause price competition and from there it is going to be a race to the bottom for who gives the best deal per night and that hurts every owner.

Get familiar with the metrics like REVPAR, TREVPAR and most importantly GOPPAR and NOI and you're off to the races. 

Arlington has a very strict area near the entertainment district for STR and requires registration.https://www.arlingtontx.gov/city_hall/departments/planning_d...Haslethttps://ecode360.com/41493162I like Haslet, but not sure there are any demand drivers for STR other than maybe the occasional race at the TMS.