The arbitrage market is starting to get saturated but still doable.

The usual suspects, Smokies, Destin/30A, plenty of others The amount of saturation in the smokies and sudden hike in prices makes me a little worried.

I rented it for $1450 at the height of the market but the saturation of rentals in Stamford reduced it.

He said the big boom for them was 10-15 years ago and the market is now saturated.

Nashville is pretty saturated IMO.

You need to understand everything about the STR market in that location before proceeding   This includes STR laws, STR sentiment, saturation/occupancy, cleaners (cost, reliability, etc), PM options, etc).In addition CA is STR unfriendly.  

The 4-16 range may have some opportunity in direct-to-seller marketing (though that's probably also saturated). 

As an investor, my eyes certainly have wondered a bit from the STR model due to saturation and regulations

This is assuming that region isn't currently saturated with STRs already so that will take market research on your part.

We at one point had about 22 Airbnbs but that market has definitely become more saturated, a lot more competitive, city restrictions and fees have really increased for consumers.