I've Googled and emailed over the last 3 months trying to find funding for a flip in downtown waco but kind find funding on a rundown $30,000 overhaul with in walking distance to most tourist attractions in the area.

I've leased this home for 5 years and never been late 1 time.. we were impacted by the Nashville Tornados and just this week my owner sells the home from under us and gives me 30 days to move.. with the tornados, taking the market's property surplus and the COVID basically shutting down the tourist town of Nashville.. alot of my officers are basically screwed... including my family and I.

I'm not familiar with the area, but here are some things to look into to determine if it will be better for STR, LTR, or neither.STR:- Amenities, transportation, night life, popular tourist attractions, stadiums/concert venues, beaches, museums, can the home be turned into something unique, you will need to furnishLTR:- Amenities, work/job locations, schools, wage increasing over time, transportation, low crime rate, everything on the STR list, you will most likely not need to furnishI hope this stuff helped!

Where would you invest with a goal of -FIRElong term cash flow (if not now, later eventually ) less involvement Options are :Buy SFR , rent (bay area)Multiple fm (upto 4 units) bay area buy camp ground - west coast investments property overseas short term rental bay area buy short term rental at Tahoe, other tourist locations buy and rent commercial property any other suggestions ?

Also consider tourism/foot traffic trends where the tourists are staying 2+ days; just because these areas have a lot of visitors does not mean these visitors are staying longer than a day trip.

A highly trafficked tourist destination with almost no affordable housing available, even in surrounding areas of Cottonwood, Clarkdale & Camp Verde.  

It's an expensive town to live in, with a shortage of LTR's, so they are eager to decrease STR's and increase LTR's.Mayor Jablow recognizes the importance of STR's for a higher quality vacation for tourists, but he and the local administration want to limit this, once there is a AZ law that allows them to do so.One of the best "nuggets"/"gems" was to hear him say to us that upon a AZ law getting passed that does indeed restrict the number/percentage of STR's, those that already have a permitted STR in Sedona will be grandfathered in.

STR/MTRs are an great play in heavy tourist cities.

The beaches are no longer packed with families and college kids just mainly old tourists and not to the magnitude of Orlando or Miami either.

You will most likely need a “tourist” zone to do short-term rentals.